Gold prices have rallied as much as 10% throughout October, according to Financial Times, repeatedly reaching over $2000/oz. in late October and early November. JPMorgan’s top strategist recommends that consumers cut equities and instead allocate a portion of their portfolios to gold.
“Our [economic] outlook is likely to remain cautious as long as interest rates remain deeply restrictive, valuations expensive, and the overhang of geopolitical risks persists.”—JPMorgan chief market strategist Marko Kolanovic
How might consumers benefit from paying attention to this upward trend in gold prices?
Watch the video below for exclusive insights on this topic from U.S. Money Reserve’s Coy Wells.
Related headlines from around the web:
- CNBC: “JPMorgan’s top strategist says buy more gold, stay underweight stocks because of high rates, geopolitics”
- Bloomberg: “Central Bank Gold Binge Is Even Bigger Than Previously Thought”
- MarketWatch: “Gold prices settle above $2,000, at highest since end of July”
Protect your portfolio with precious metals today.
Gold has historically been used as a hedge against economic uncertainty and market turbulence. As paper-based assets like stocks continue to experience volatility and inflation continues to deflate the dollar’s purchasing power, now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied.