Bond-market veteran Jeffrey Gundlach has pared back his gold holdings, warning that the metal’s recent rally has reached “nosebleed” levels. The DoubleLine Capital CEO said he’s trimmed gold exposure to 10% of portfolios while keeping 5% in a broad commodity index and tilting toward non-U.S. and emerging-market equities.
- He cautioned that inflation could remain above 3% on a year-over-year basis, potentially steepening the yield curve as markets adjust to slower disinflation.
- Gundlach sees roughly a 50-50 chance of a Federal Reserve rate cut in December, following two earlier 25-basis-point moves this year.
- He urged investors to rebalance portfolios after the Fed’s latest easing steps, arguing that global diversification and disciplined risk management will be key as U.S. policy transitions from restrictive to neutral.
