We’re not sure how much stock people are placing in Roubini’s market-timing calls these days. His star has faded, and he was calling this rally a sucker’s before March was over.
But Dr. Doom is not a fan of gold at these prices.
Reuters: “For the next two years, deflationary pressure is going to be dominant, and it is going to become a time bomb down the line if and when we keep monetizing large deficits. It may be too soon to hedge with gold,” he said.
“Unless we have high inflation, or…other risks like depression, gold looks toppy,” he said.