This is a very good entry point for gold, says DoubleLine Capital's Gundlach
Speakers
Summary
- Gundlach notes the VIX index never exceeded 30 during recent risk asset declines, which is unusual compared to historical washout signals above 40.
- High yield credit spreads have widened by 60-70 basis points from recent lows, indicating mounting stress in corporate debt.
- Emerging market debt spreads are also widening, contributing to broader credit market concerns.
- Asset-backed securities and commercial mortgage-backed securities have remained stable, acting as safe havens amid volatility.
- The equity market is in a revaluation phase, making 2024 a difficult year for generating returns.
- Gundlach maintains a long-term bullish view on commodities and gold, despite their modest gains this year.
- Last year, his prediction for gold above $4000 was exceeded as prices rallied to nearly $5500.
- With gold now back near his original target level, he sees a very good entry point to add to gold positions.
- He expresses lack of enthusiasm for credit investments, suggesting a cautious stance on that asset class.
Trade Ideas
Gundlach explicitly stated that gold is back down to about what he thought would be the target high point for the year, and at this level, "it's a very good opportunity to add to gold." After surging to nearly $5500 last year—exceeding his prediction of above $4000—gold has corrected to a more reasonable valuation based on his original target, creating an attractive entry point. LONG because he sees current prices as a compelling opportunity to increase exposure, indicating conviction in future upside potential. A sustained downturn in commodities or shift in macroeconomic conditions that reduces gold's appeal as a safe-haven asset.
Up Next
This CNBC video, published March 23, 2026, features Jeffrey Gundlach discussing GOLD. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Jeffrey Gundlach · Tickers: GOLD