Gold and bitcoin reach record highs in October as investors seek protection. Rising inflation, debt, a weak dollar, government shutdown, and the “debasement trade” fuel assets beyond stocks and bonds. Both safe havens are benefiting from inflation and policy risk concerns, with gold surpassing $4,000 and bitcoin setting new highs.
The “debasement trade” bets on eroded U.S. dollar value due to money printing, leading investors to flock to safe-haven assets like gold and bitcoin. Inflation concerns drive gold to all-time highs, while silver surges to $50. ETFs like SPDR Gold Trust and iShares Silver Trust remain popular options.
Billionaire Paul Tudor Jones advocates for a mix of gold, cryptocurrencies, and tech stocks. The fear of missing out fuels a rally. Stocks turn lower amid U.S.-China tensions over rare earth elements. Federal Reserve minutes suggest possible rate cuts. Investors seek non-sovereign assets in uncertain times.
Stocks plunge on Friday due to U.S.-China tensions, while optimism remains for 2026. Fed minutes indicate consensus on rate cuts. Geopolitical uncertainty drives interest in assets outside the traditional system. Watch the full ETF Edge episode for more insights on managing market volatility. 1. President Biden signs $1.9 trillion Covid relief bill into law, providing $1400 stimulus checks to most Americans. The bill also extends unemployment benefits and provides funding for vaccine distribution and schools.
2. Johnson & Johnson Covid vaccine receives emergency use authorization from FDA, making it the third vaccine available in the US. The vaccine is a single-dose shot and has shown to be effective in preventing severe illness.
3. Texas Governor lifts mask mandate and allows businesses to operate at 100% capacity starting March 10th. The decision has drawn criticism from health officials who warn of potential increase in Covid cases.
4. Amazon founder Jeff Bezos announces plans to step down as CEO in the third quarter of 2021. Bezos will transition to the role of Executive Chairman, focusing on new projects and initiatives within the company.
5. SpaceX successfully launches and lands Starship prototype SN10, marking a major milestone in the development of reusable rockets. The prototype reached an altitude of 10 km before landing back on the launch pad, although it exploded minutes later.
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1. U.S. jobless claims rise to 898,000 last week, exceeding economists’ expectations. This marks the highest level since August, indicating a struggling labor market amid the ongoing pandemic.
2. Tesla shares fall after the electric car maker fails to be included in the S&P 500 index. The decision surprises many investors and leads to a dip in the stock price.
3. Apple announces virtual event on September 15, sparking speculation about the launch of new products. The tech giant is expected to unveil the latest iPhone models and other gadgets during the online presentation.: Why market wall of worry, debasement trade are boosting gold, crypto