Scaramucci Talks Gold Price and Market Volatility; Weighs In on a Gold Standard 2.0 (Part 2)




from Kitco NEWS

Gold is a near-term safe haven asset, said Anthony Scaramucci, but the hedge fund manager and former White House Communications Director sees potential in other assets on a longer-term basis.

“It’s a near-term safe haven but long-term it really doesn’t solve people’s problems,” Scaramucci told Kitco News. “I would prefer to put the money or the capital into assets that I think are actually going to return something as opposed to be waiting for other people to think it’s more valuable to me in terms of where my entry point is.”

Scaramucci noted Warren Buffett’s view on gold, which is that the yellow metal’s value is derived from its finite supply rather than contribution to productive economic growth.

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