Finimize - 🪙 Another bitcoin boom

Bitcoin hits a new record, China's trade surplus is bigger than ever, and the wet dog shake |
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Hi Reader, here's what you need to know for November 12th in 3:08 minutes.

  1. Bitcoin’s rally pushed it past the $80,000 mark for the first time ever, and traders are betting it’s still got room to run
  2. What you should know about gold and its seemingly unstoppable rally – Read Now
  3. China’s dishing out way more goods than it’s importing, which will likely spark fresh trade tensions with its partners

💰 When less is definitely more. Join us for Spread Betting Versus CFDs: How To Trade Tax-Free with IG at 5pm on November 19th and discover how to hang onto more of your cash. Grab your free ticket

A Bitcoin Love-In
A Bitcoin Love-In

What’s going on here?

A post-election rally pushed bitcoin past the $80,000 mark for the first time ever on Sunday.

What does this mean?

The US election outcome last week sparked some big moves in markets – with stocks, the greenback, and bond yields all rocking higher on expectations about tax cuts, tariffs, and looser regulations. But one particular asset has stolen the show: bitcoin. By Sunday, the OG crypto had shot almost 20% higher since Americans headed to the polls, as traders bet on the president-elect’s support for digital assets and the prospect of friendlier regulation for the sector.

Why should I care?

For you personally: Party atmosphere.

This crypto celebration could go on for a while. Case in point: on one particular investment platform, traders have already amassed a nearly $3 billion bet that bitcoin will soon top $90,000. But before you throw on a party hat, remember Warren Buffett’s classic advice about following the crowd: “Be fearful when others are greedy, and greedy when others are fearful”. Or just bear in mind that the president-elect – though on board with crypto now – has a history of shifting his stances. During his first term in the White House, for example, he called bitcoin “a scam”.

The bigger picture: Strong stats for a rookie.

The size of BlackRock’s bitcoin exchange-traded fund (ETF) jolted higher last week, flying past the investment giant’s gold fund, with a record one-day influx of $1.1 billion in new money on Thursday. It’s a stunning addition to the fund’s already spectacular year: investors have now poured over $27 billion into the ETF since its January launch – making it the world’s fourth best-performing fund in terms of inflows this year.

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TODAY'S INSIGHT

Why Everyone Lately Seems To Be Talking About Gold

Reda Farran, CFA

Why Everyone Lately Seems To Be Talking About Gold

A group of leading wealth advisors recently shared their top investing ideas with Bloomberg, and one of them really got me thinking: gold.

Specifically, I found myself wondering why this one metal remains a top pick among so many big-name investors – even after its almost 40% price gain over the past year.

And I’ve been tying myself into mental knots wondering why it’s done so well, despite the absence of its usual drivers, like low interest rates, high inflation, or slow economic growth.

I actually can’t stop thinking about gold.

That’s today’s Insight: why everyone is talking about gold right now.

Read or listen to the Insight here

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One In, Many Out
One In, Many Out

What’s going on here?

China exported far more goods than it imported during the first ten months of the year, leaving the world’s second-biggest economy with a record $785 billion trade surplus.

What does this mean?

That’s a 16% jump from the same period last year, and it leaves China on the verge of recording a $1 trillion surplus for 2024, according to Bloomberg. And you can’t even blame inflation for the increase: Chinese export prices have actually been falling. Needless to say, none of this has been going down well with the US and Europe, both of which have been vocal about the fact that China has been shipping out way more goods at way lower prices than it’s been importing from its trading partners. They’ve accused the country of flooding the market with cheap goods, a practice known as “dumping”. And the US and Europe aren’t the only economies with this beef: China has sold more goods than it’s bought from nearly 170 other places this year – the most since 2021.

Why should I care?

Zooming in: No such thing as coincidence.

The export boom didn’t just happen. See, Chinese consumer spending has been sluggish, weighed down by some economic troubles and a real estate crisis that has folks feeling poorer. To help offset that spending weakness and keep closer to its growth target for the year, Chinese authorities have encouraged more output from the country’s manufacturing sector – in other words, more exports. And that overproduction has now riled the country’s trading partners, who are threatening hefty import taxes on Chinese goods as a result.

The bigger picture: Pie in the sky.

Adding to the country’s worries is the fact that the US president-elect has said he’ll impose a 60% tariff on all Chinese goods. And if that happens, China’s economic growth could fall to just 3%, according to a recent analysis by Standard Chartered and Macquarie. That would make the country’s official growth target of “around 5%” seem like little more than a pipe dream.

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QUOTE OF THE DAY

"The sad truth is that most evil is done by people who never make up their minds to be good or evil."

– Hannah Arendt (a German-American historian and philosopher)
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A glittering solution

Gold doesn’t just look nice, it also can be a seriously useful asset.

In times of political or economic uncertainty, other assets can become more volatile and prone to dips. But that’s when gold is in its element.

For generations, it’s been a reliable store of value and a hedge against inflation. And now GoldCore is making it easy to hold physical gold as part of its pension offering, storing it in trusted vaults around the world.

When it comes to investing, you can get started with its GoldSaver account for as little as $100 a month, and you can add to your glittering stash at your own pace.

And, GoldCore – which has 21 years of experience trading the yellow metal – will guide you through your first steps, with a free introductory call.

So if you’re looking for a little more security and a little less uncertainty in your investing life, get started with an asset that’s easy on the mind and the eye.

Discover More

Precious metals markets are volatile, with values that can fluctuate. Investments in these metals carry risks that may not suit everyone. Consider your personal situation and seek independent advice if needed.

IMPORTANT: The global precious metal bullion markets are unregulated, and there are no guarantees regarding the future value of any products sold.

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🎯 On Our Radar

1. Navigate the uncertainty. How to deal with a flight delay or cancellation.

2.. Shake it off. The science behind why mammals do the “wet-dog shake”.

3.. Way up high. The coziest Airbnbs in US mountain towns.

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