so are we waiting for what now? FOMC Fed has moved from a focused 2% inflation target to an “average” inflation target of 20% — meaning it was willing to accept overshoots before raising rates again. is there any hopes for gold to be shining again?
Investing.com - The dollar edged lower in early European trade Friday, weighed down by disappointing employment and housing data and with the tech sector continuing to suffer strong selling in the equity markets.
At 3 AM ET (0700 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was down 0.2% at 92.823, the EUR/USD rose 0.2% to trade at 1.1865, while USD/JPY was largely flat at 104.70, but still on course for a gain of 1.5% over the week
The price of gold has jumped 30% in 2020—outstripping the rally in the technology-heavy Nasdaq Composite Index—in a bull run that began in late 2018 and has gathered momentum during the coronavirus pandemic.
A ten-dollar bill stuck under the mattress in 1971 would have the purchasing power of roughly $1.60 today. The equivalent of $10 in gold (.286 troy ounces) put under the mattress in 1971 would have the purchasing power of almost $565 today (at $1975 per ounce). Over the long term, cash is cold comfort to the saver …… if its comfort at all. That is why Ray Dalio, manager of the largest hedge fund in the world, recently said ‘cash is trash’ and recommended a long term holding in the yellow metal instead. It is not difficult to understand, at the same time, why someone might want to keep a fairly substantial emergency stash of the green stuff nearby under current circumstances.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ThePowerOfGlove
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Posted by ThePowerOfGlove > 2020-09-16 13:30 | Report Abuse
Very good