You Don’t Have to be Crazy to Buy Gold

by Greg Guenthner
Daily Reckoning

The smart money continues to jump on the gold bandwagon.

The latest gold bull to show himself is billionaire fund manager Paul Singer. He thinks the rally we’ve seen in gold so far this year is just getting started.

“It makes a great deal of sense to own gold. Other investors may be finally starting to agree,” Singer writes in a client note. “Investors have increasingly started processing the fact that the world’s central bankers are completely focused on debasing their currencies.”

Now we can add Singer to the list of big-name investors who are getting bulled up on the Midas Metal. Just last week, Stanley Druckenmiller—billionaire investor and former George Soros protégée— advised the crowd at the Sohn Investment Conference attendees to sell stocks and buy gold.

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