David Einhorn says the Fed will cut ‘substantially more’ than two times. So he’s betting big on gold

Key Points

David Einhorn of Greenlight Capital anticipates the Federal Reserve will cut more than twice in 2026, which is what traders have priced in.
Einhorn owns gold and Secured Overnight Financing Rate, or SOFR, futures.
Gold has seen massive gains in recent years, though it faced some pressure last month following President Donald Trump’s Fed chair nomination announcement.

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