Citadel’s Ken Griffin said investors are starting to view gold as a safer asset than the dollar, a development that’s “really concerning” to the billionaire investor. “We’re seeing substantial asset inflation away from the dollar as people are looking for ways to effectively de-dollarize, or de-risk their portfolios vis-a-vis US sovereign risk,” Griffin said in an interview with Bloomberg’s Francine Lacqua on Monday. The lingering federal government shutdown and the prospect of potential rate cuts helped propel the precious metal on Monday to a record. This year, investors have been betting more on gold, silver and Bitcoin, in what’s been called the “debasement trade.” The US is seeing fiscal and monetary stimulus that’s more akin to what normally happens during a recession, which is stoking markets, Griffin said.
“We’re definitely on a bit of a sugar high in the US economy right now,” Griffin said.
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