The top gold strategist at $4.3 trillion State Street shares 3 reasons why gold could reach $2,700 by year-end — and how he invests in the metal [Business Insider]
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Source: Business Insider
Rate cuts, dollar depreciation, and geopolitical tensions all make gold a valuable protective addition to a portfolio. Milling-Stanley divulges the details on how he invests in gold. Investors might want to add some Au to their AUM. That's gold, for those who didn't pay attention in chemistry class. George Milling-Stanley, State Street's chief gold strategist and one of the founders of the SPDR Gold Trust ETF ( GLD ), sees now as the optimal time to invest in gold and predicts that prices for the yellow metal could reach $2,700 per ounce by the end of the year. With over 50 years of experience in the gold industry, Milling-Stanley believes today's macroeconomic environment is ripe for gold to outperform. The possibility of a rate cut in the next six months has been looming over the economy, which should boost the price of gold, Milling-Stanley said. June CPI data was favorable, showing a drop in inflation and increasing the likelihood of lower interest rates Since the imp
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