Gold investors are forgetting that a return to 2011 highs would imply an “end of the world” scenario where all risk assets are plummeting, said Peter Hug, global trading director of Kitco Metals. A balanced investor who has only 10% of his portfolio in gold would not want to see the rest of his assets fall for only 10% of his holdings to gain.
“It’s only returns on the 10%, the other 90% is going to get hammered, it makes no sense,” Hug told Kitco News. “You’re wishing for the end of the world so 10% of your assets appreciate. There’s no logic to that.”
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