It is time to invest in gold, says DoubleLine Capital CEO Jeffrey Gundlach

DoubleLine Capital CEO Jeffrey Gundlach believes that now is a good time to buy and hold gold. Gundlach’s outlook for this asset has become more optimistic, with gold exceeding the level of $1,800 per ounce.

For the past two and a half years, gold prices were mostly flat. However, the precious metal began to rise after a decline in the U.S. dollar.

It is worth noting that in other currencies, gold has previously shown quite good results, including 2022.

Breaking through the level of $1,800 per ounce promises gold's continued positive outlook. The weak dollar will support the precious metal prices this year. According to Gundlach, the American currency has peaked in 2022, therefore, the dollar index is not likely to return to the level of 115. Regarding this, DoubleLine Capital CEO recommends buying and holding the precious metal. At present, gold has not gone far from the mark that it recently passed.