Wells Fargo Is Bullish Gold, So Why Did They Lower Their 2021 Forecast? | John LaForge

“Keep with the reflation trade. Commodities have been dead money for ten years but we are probably coming out of that funk,” says John LaForge, Wells Fargo Head of Real Asset Strategy. In a world of currency debasement, excessive money printing, and negative real interest rates, he calls gold a bang-for-your-buck scenario.

While Laforge is bullish the yellow metal, he tells Daniela Cambone why the bank recently lowered its gold forecast for the year from $2,300 an ounce to $2,100. He also chimes in on the gold versus bitcoin debate: “No one can prove the connection that funds are leaving gold for bitcoin.”

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