Billionaire investor David Einhorn explains why gold will keep rising — and it's got nothing to do with inflation

CNBC/Heidi Gutman/CNBC

• "Gold is not about inflation," David Einhorn told CNBC.
• The billionaire investor says gold is rising on deficit fears.
• His fund crushed the S&P 500 last quarter thanks to a big bet on gold.

David Einhorn's Greenlight Capital crushed last quarter by betting big on gold, and the hedge fund boss said the metal's big rally isn't done yet.

Einhorn said that he sees gold continuing to rise even after a record-setting run so far in 2025...