But he said the mistake was "not one of great consequence.”
The former Pimco CIO said he's buying futures tied to the Secured Overnight Financing Rate.
The tumble is part of a broader move across financial markets to price in brighter growth prospects for 2021.
The dollar's gain has as much to do with weakness elsewhere in the world as it does strength in the U.S.
They don't see any reason for the quantitative easing called for by President Trump.
The rally in gold, which in October posted its first monthly gain since March, fizzled last week.
Bullion futures rebounded as dovish Federal Reserve comments were seen weakening the dollar.
Gold is less prone to turmoil as ETF cash eases price swings.
The outlook for supply and demand in some commodity materials put some speculative positions at risk.
This $30 million natural resources fund has used gold bets to beat 99 percent of its peers.
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