harris

Quote of the Week: The Problem With Gold

by

May 16, 2012

“The problem with gold is that it doesn’t trade based on the fundamentals of supply and demand these days… Gold acts more like a currency than a commodity,”

 

Who said it: Joshua Harris of the private equity group Apollo

 

Context:  Quoting Apollo’s Harris who was speaking on a panel that turned out to be quite bearish on gold at the recent Milken Institute annual conference. CNBC published a short news item about gold, asking whether or not it was still a commodity. Harris sees the problem gold now as bet against paper currencies and therefore not like a typical commodity.

 

Where we found it: CNBC

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