In gold we trust
A market veteran today offered advice to investors trying to calculate their response to Trump's erratic economic policy. His top pick? Gold.
“This is the first time in my career that you have got a president who wants the price of gold to go higher,” Larry Jeddeloh, a nearly 50-year veteran of the markets, declared at the Macquarie Australia Conference on Thursday. “I’ve never seen that before.”
Jeddeloh, the founder of Minneapolis-based macro strategy firm TIS Group, was one of the more intriguing figures to appear at the conference in Sydney. It is a much-anticipated event on the Australian institutional investment calendar, and Capital Brief has had reporters there all week.
The conference brings together the country’s biggest investment bank, and its clients — most of Australia’s top corporates and its most powerful fund managers. It also takes place at roughly the midpoint between the February and August reporting periods.
As such, it’s often the forum for corporate earnings “confessions”, when companies reveal their businesses are not on the trajectory they’d previously implied. We had a few of those this week, but a different theme has permeated the 2025 event: the return of Donald Trump and the implications of that for markets.
