Hold Some But Not Too Much Gold, Says Wells Fargo
(Kitco News) – Wells Fargo is once again cautioning investors from buying too much gold as prices continue to trade north of $1,500 an ounce.
Gold is one of the best assets to own in terms of economic uncertainty but buying too much at high levels could lead to a lot of pain, according to the latest note by Wells Fargo head of real asset strategy John LaForge.
"Market volatility is on the rise—and as history would suggest—investors are flocking to gold … The problem is that some investors do not understand gold, which can be dangerous. Flock to gold at the wrong time, and it can be painful—possibly for years," said LaForge.