Bill investor

• Gold behaves more like a meme stock than a honen asset, Bill Gross told Business Lider.

• Having matured this year, the precious metal experienced its deepest one-day decline in 12 years on Tuesday.

• The billionaire “Bond King” said it “shows characteristics of Meme and Momentum Stocks.”

Gold is selling more like a trending stock on reddit than an investment property, and I may be out after a record surge, billionaire investor Borss told Business Insider.

Yellow metal fell 6.3 timesthe Tuesday, suffering its worst decline in 12 years. The drop was accompanied by a deep decrease of 8.7% in silver prices.

This move suggests investors to take profits after gold and silver assets – to achieve gains this year, and perhaps happened with Gross’s latest warning.

After warning investors in a Friday post on X “To wait a while” if they want to buy gold, the Wall Street Billionaire known as the “Bond King” told Business Insider “

Gross, who grew Pimco and grew its total return of $ 270 billion over three decades, said that gold has increased in price in part because of hype and speculation, a sudden drop, a sharp drop.

Gross told Business that Gold was still price sensitive to short-term enthusiasm, “referring to the metal’s tendency to rise in price when borrowing costs fall.

That’s because falling prices make gold more attractive to cash and bond investors as its production declines. Low prices can accelerate inflation, making gold an attractive hedge against rising prices, and signal economic distress, eating away at the demand for gold as a safe-haven investment.

“Gold has rallied again this year because central banks have been buying at historic highs due to policy uncertainty,” Gross said. Trade wars, military conflicts and political squabbling have fueled doubts about the outlook for markets and the global economy.

Gross told Business Insider that gold is likely to “hold up better than stocks” in the coming weeks, adding that a disappointingly disappointing period could lend itself to a bull market. But he said there could be a price pullback after two months of strong trading, creating “perhaps a better time to buy.”

The veteran investor said “momentum, policy, and perhaps interest rates will be dominant factors” in gold’s trajectory.