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Today's big stories

Goldman Sachs recommends stocking up on gold and silver
Bonds don't seem to be reacting the the US election in the way you'd expect – Read Now
Fresh European data could hint at an economic slowdown coming this quarter

1/3

N’aww, Precious

What’s Going On Here?

Goldman Sachs reckons precious metals like gold and silver could bring investors big gains in 2021, and they’re not the only commodities the investment bank recommended stocking up on.

What Does This Mean?

Goldman Sachs is forecasting gains of 30% for commodities in the next twelve months, and there are a couple of reasons for that boom. For starters, there won’t be as much investment in oil extraction, which means less of the slippery elixir to go round and higher prices for whatever is available. For another thing, governments have been trying to recover from the economic impact of the pandemic by pumping money into infrastructure, which will involve a whole assortment of commodities. And let’s not forget that economies are being flooded with trillions of dollars in an effort to encourage consumers to spend their economy-boosting cash. That’s going to push up the price of goods and services, which is expected to lead to higher inflation. And seeing as that’ll erode the value of hard-earned savings, investments in “safe havens” like gold will start looking a lot more appealing.

Why Should I Care?

For markets: Not-so-heavy metals.
There are all sorts of commodities investors could pick from, but Goldman Sachs sees most near-term upside in so-called “non-energy commodities” like metals and some agricultural products. Of all of them, it’s keenest on gold and silver, which it’s expecting to rise by 20% over the next three months.

Zooming out: Warning: more election talk.
Goldman Sachs thinks the gains from commodities could be even higher if there’s a Democratic win in the upcoming US elections. The investment bank thinks the party’s proposed climate plan could boost demand for both copper and silver – the latter of which is used heavily in solar panels. In fact, Goldman Sachs has worked out that if the Democrats win and China follows through with bringing forward its (renewable targets, silver prices could be set to jump another 9% (tweet this).

Take action: How to put Goldman Sachs’ commodities advice into practice.

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2/3 Premium

US Bonds Are In A World Of Their Own

What’s Going On Here?

It’s a volatile time for markets in the US for profoundly obvious reasons, but certain bonds seem remarkably chilled out about the whole situation.

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💥 “The next boom has begun”

That’s what Forbes says about the cryptocurrency market. And it’s easy to see why: in just two years, some digital coins have seen their values multiply by 30 times, 80 times, sometimes even 124 times.

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3/3

Vanishing Act

What’s Going On Here?

Looks like the eurozone’s recovery could be fading fast: new data out late last week showed business activity dropped to a four-month low.

What Does This Mean?

First, a bit of no-background: these monthly surveys – which give investors a more up-to-date idea of how the economy is doing than, say, growth data – ask business managers how busy they’ve been compared to the month before, and hand out a score based on what they find. A score of 50 or higher suggests the economy is expanding, while any lower hint at – whisper it – a contraction.

The UK may have managed to keep its head above the 50 mark, but the eurozone wasn’t quite so lucky. And even though the bloc’s still well above the all-time lows of the first coronavirus wave, the survey’s results do signal the fourth quarter could bring yet more economic shrinkage.

Why Should I Care?

For markets: Push and pull.
Dig a little deeper and you’ll find plenty of internal conflict in the data: manufacturing companies have seen growth accelerate thanks to strong global demand, but services – think everything from accountants to the bruised-and-battered hospitality sector – have deteriorated as the pandemic’s reared its ugly head once again. Cue the US plumping up its feathers: the country released survey data at the end of last week too, and it actually saw activity in the services sector increase.

The bigger picture: Buy the double dip?
Funny thing is, European economic data for the third quarter – due at the end of the month – is actually expected to show record growth compared to the quarter before. But Friday’s survey data has already prompted economists to prepare for the fourth quarter to stagger back into the red. That means Europe could be heading straight into a “double-dip” recession – or two periods of contraction broken up by a brief stint of expansion.

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💬 Quote of the day

“Feel compliments as deeply as you feel insults.”

– James Clear (an author, entrepreneur, and photographer)

Tweet this

🤔 Q&A · RE: Sue-gle

“Why is the US government going after Google?”

– Hannah in California, USA

“There are a couple of reasons, Hannah. We’ve already mentioned the search giant’s exclusive agreements with the likes of Apple that the US government has argued makes it impossible for rivals to compete. But there are also concerns that YouTube, Google Maps, and Google Chrome are adding to the company’s unfair advantage. Chrome has about 70% market share, for instance, while YouTube’s advertisers are required to use Google’s tools to access ad space – boosting its income even more. And it’d be a big deal if the government gets its way: advertising contributes almost all Google-parent Alphabet’s revenue. That might be why some investors are starting to hope its ‘other bets’ – self-driving cars, artificial intelligence, and healthcare – pay off in a big way. And judging by our analysts’ estimates, they very well could: here’s what our analysts think those ‘other bets’ are worth.”

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🇺🇸 Are you, like, so over this election?

We hear you, but it’ll all be over soon, we promise. And when it is, you’ll want to know if you’ve done everything you can to perfect your portfolio for the next four years. So join us, IG, and Wall Street legend Peter Tuchman to find out everything you need to know how both outcomes could affect you. Grab your free ticket here

💰 Savings and Stability for All: 12.30pm New York Time, October 27th
🇺🇸 US Elections with Peter Tuchman: 1pm New York Time, October 28th
💵 Building Your Retirement Pay Cheque: 12pm Vancouver Time, October 28th
🙋‍♀️ The Future Is Female: 2.30pm New York Time, October 29th
☝️ Level Up Your Professional Brand: 5pm Dubai Time, November 3rd

📚 What we're reading

RBG’s fight goes on (National Geographic)
Wait, what’s happening to the moon? (IFL Science)
Peloton gets pel-itical (The Cut)

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Finimize - 🥇 Goldman goes for gold

Today's big stories

N’aww, Precious

What’s Going On Here?

What Does This Mean?

Why Should I Care?

US Bonds Are In A World Of Their Own

💥 “The next boom has begun”

Vanishing Act

What’s Going On Here?

What Does This Mean?

Why Should I Care?

🇺🇸 Are you, like, so over this election?

🦃 Get yourself a free Thanksgiving turkey

Older messages

"Apple isn’t actually worth $2 trillion”

📈 Coke adds Mentos

🐍 Bank of America slips and slides

🍾 Morgan Stanley bottles it

🙌 New Events: A Beginners Guide To Investing & The Future Is Female

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