Gold’s upward trend above $2,000 per ounce is prompting calls for a rally to a new all-time high.
Volatility should be expected to remain high as investors will be closely watching for hints on upcoming monetary policy direction.
The final trading week of the month kicked off with stocks sliding on Monday, setting investors up for a losing month where much of the optimism of the early summer has fizzled into more tempered expectations of the Fed’s tightening campaign.
It’s mentioned often how central banks are one of the pillars of support when it comes to gold prices. JP Morgan’s analysis recently said that global gold investment has reached the highest level since 2012, and it wasn’t that long ago that it would have been strange to find an active central banker talking about gold.
Stronger-than-expected economic data has forced some on Wall Street to push back, or even remove calls for a recession once widely considered a sure thing.
U.S. equity futures struggled for direction as risk appetite cooled from last week’s rally. The yen weakened after the Bank of Japan made its first unscheduled bond purchases in months.
Some of the forecasters who were first out of the box to predict a U.S. recession are starting to hedge their bets as inflation ebbs and the economy remains resilient.
An article by Jeff Thomas, feature writer for Strategic Wealth Preservation, Doug Casey’s International Man and 321gold.com Traditionally, inflation has been defined as “an increase in the amount of currency in circulation.” Such an increase almost always causes an increase in the cost of goods and services, since, more plentiful currency units lowers their rarity,…
Geopolitical, economic, and environmental uncertainty can be expected to continue in the near term. Astute investors continue to seek out alternative investments for their portfolios to aid in diversifying them away from overexposure to any single asset class.
The Roman denarius pictured above features the profile of the emperor Diocletian, circa 301 AD, at the time when he issued the edict listed above.