Goldman’s Currie admits to gold being a strategic hedge

A change of heart at Goldman?

Bloomberg(Video)/7-27-2016

“We like to say that being long gold is the same as being short politicians and being short politicians is something that you would want right now.” said Jeffrey Currie, Goldman Sachs

MK note:  Seems Wall Street’s traditional heart of the anti-gold narrative is going through some changes.  Yes, this is the same Jeffrey Currie who told us almost one year ago to the day that gold was going below $1000.  It was trading in the $1100 range at the time and went as low as $1050 before the end of the year.  But from there it has been all upside. (It touched $1345/oz overnight and has been as high as $1360 per ounce since Currie made his prediction.)

Last July, he said, “With the more positive outlook on the dollar, and with debasement risk starting to fade, the demand to use gold as a diversifying asset against the U.S. dollar becomes less and less important.” The polar opposite of what he said yesterday. . . . .