Bloomberg Surveillance · Monday, August 31, 2026
Elliott explained that the current environment, characterized by Middle East conflict and a lack of credibility in U.S. policymaking, favors hard assets like gold and oil over bonds and stocks. This trend is driven by global inflationary pressures, including in commodities beyond oil.
“And I think if you look at this whole scope of different pressures, whether it be the continued conflict in the Middle East or the administration's lack of credibility in policymaking across a number of different areas, this is setting up an environment where hard assets.”
“Where you see gold and oil continuing to be strong, where you see bonds and stocks soft in this sort of environment.”