Morgan Stanley Strategist Makes Case for Holding Gold Amid Market Volatility

Gold prices have pulled back in recent weeks, but Morgan Stanley strategist Andrew Weissman believes there are three key reasons to hold onto the precious metal. In an interview with CNBC, Weissman cited rising interest rates and inflation as two factors that will continue to drive gold demand.

Weissman's third reason is the increasing trend of investors turning to gold as a safe-haven asset during times of market volatility. He notes that gold has historically been a reliable store of value during economic downturns, and sees this trend continuing in the current market environment.

While some may be tempted to sell their gold holdings due to recent price declines, Weissman advises investors to hold onto their positions, citing the long-term potential for gold prices to rebound. He also notes that the current pullback is a normal part of the investment cycle and should not deter investors from holding onto their gold investments.