Legendary investor Byron Wien calls for gold to surge 20% this year

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  • Legendary investor Byron Wien said gold will rally 20% in 2022 in his closely watched “surprises” newsletter.
  • He predicted investors will turn to gold for safety, as the S&P 500 wobbles and inflation stays hot.
  • Wien is vice chair of Blackstone’s Private Wealth Solutions group, and was previously chief US investment strategist at Morgan Stanley.

Legendary investor Byron Wien has predicted that gold could make a surprise 20% surge this year as investors flock to the yellow metal for protection against inflation and market volatility.
The vice chair of investment giant Blackstone’s private wealth solutions group said he thinks gold may well reclaim its title as a safe-haven asset, writing in his closely watched annual Ten Surprises newsletter.
The letter, published by Wien and Blackstone colleague Joe Zidle on Monday, lists 10 events that the average investor sees as having a less than one-in-three chance of happening, but that Wien believes have a more-than-50% likelihood.
To support his call, Wien said new billionaires are likely to invest in gold, despite cryptocurrencies such as bitcoin becoming increasingly seen as an alternative store of value.

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Many investors have long touted gold as a hedge against inflation. They argue the commodity holds its value over the medium to long term, even as price rises erode the value of other assets.

markets.businessinsider.com/news/commodities/byron-wien-gold-price-forecast-outlook-bitcoin-crypto-inflation-blackstone-2022-1?op=1

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