Pan-European [Global] Bank Likes Gold?

Not really.. they just don't hate it as much.

Housekeeping: Tomorrow 8 am, the best report on reasons to own Gold we’ve ever seen will be sent to Premium subscribers. A brief summary of it was done on April 25th

Gold’s lower correlations to equity and bond performance could prove an interesting addition to a diversified portfolio given lingering inflation and geopolitical risks.Background

Unicredit is one of the few pan-European banks standing and the only systemically important Italian bank. Big in equities and credit as their name applies. Not common to talk of gold like this. Be clear. They call it “interesting”. Which might have given the neo-keynesian writer a heart attack to type.

Not sure what to make of it except they have to talk about it now. These type banks do not recommend gold as it competes with their solutions. They may as well have Klaus as their spokesperson, if you know what I mean