Gold Price Poised for $1000/oz Gain as Mainstream Narrative Implodes

Fidelity fund manager George Efstathopoulos has increased his fund's exposure to gold by doubling it, citing that investors are now more focused on why yields are rising rather than the yields themselves.

Efstathopoulos' move comes as mainstream media's narrative on gold and rates is experiencing an implosion. Analysts believe this could be a sign of a new normal for the market.

The US government's refusal to cut its spending and debt has led to rising interest rates, which in turn could lead to a $1000/oz gain for gold for each 1% rise in rates. This trend is expected to continue in the long term.