Gold and silver prices are surging due to safe-haven demand amid geopolitical tensions and economic uncertainty, with gold reaching a record $2,758.49. Demand for gold is also spurred by inflation concerns, as seen in retail sales at Costco. Investors are diversifying portfolios, increasing the appeal of precious metals as a hedge.
Physical precious metals have a long history of being viewed as a hedge against geopolitical uncertainty, economic turmoil, and inflation.
Additionally, the world is looking at large-scale, international economic collapse in the relatively near future. What part will this play in the OECD’s efforts?
This week, the S&P 500 and Dow Jones Industrial Average fell for three consecutive days; this is the longest losing stretch since September.
1. As fears of further trade war escalations between the U.S. and China seem to be fading, eyes are turning to next week’s Federal Open Market Committee meeting by the Federal Reserve. Analysts will be parsing every word of Fed Chair Powell’s statements at the conclusion of next week’s meeting for indications on the near-term…
The U.K. received a reprieve from the constant pressure of coming up with a viable Brexit package this week when the EU gave it until October 31 to come up with a new plan. Conditions on the extension, however, mean that the U.K. must elect members to the European Parliament in May, or it will again be faced with the threat of a disorderly exit come June 1.
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