Paul Tudor Jones is sounding the alarm for the U.S. and global economies. The billionaire is looking at gold as the safe-haven play.
In an interview with Bloomberg News, Paul said that his favorite trade in the next 12 to 24 months is gold. He added that if the price can break through $1,400 it will push to $1,700 an ounce “rather quickly.”
“ Gold has everything going for it,” he said.
During the interview Jones said that the global economy, built on global trade, is on the verge of breaking down. This he said was due to global trade tensions escalating. He said that President Donald Trump’s recent threat of further tariffs on $300 billion of imported Chinese goods could be the “material event,” that could push the U.S. economy into a recession.
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