|Day's Range||4.3500 - 4.4000|
On Tuesday, Nancy Pelosi, the speaker of the House of Representatives, formally ordered an investigation into President Trump’s impeachment.
The Fed slashed interest rates for the second time since the financial crisis by 25 bps to 1.75-2% in its policy meeting to sustain a decade-long economic expansion.
Gold has been benefiting from the US-China trade war. However, some observers, such as Jim Cramer and Citigroup, disagree on what's in store for gold.
UBS Global's Mark Haefele recently wrote in a note, "We believe that investors can keep their investment strategies on track for the long term."
Trade has played foul on Wall Street throughout August, sending the broad indices into a tailspin, thus compelling investors to flock to gold as a great store of value and hedge against market turmoil.
On Monday, Bloomberg reported that UBS Global Wealth Management turned underweight on equities for the first time since the Eurozone crisis.
Gold hit a fresh six-year high on Friday as trade tensions between the US and China escalated. The SPDR Gold Shares ETF (GLD) closed up 2%.
Amid the trade war, weakening economic indicators, and the yield curve inversion, Jeffrey Gundlach believes the Fed has lost control of interest rates.
As widely expected, the Federal Reserve cut interest rates by 25 bps for the first time since the 2008 financial crisis. We have highlighted ETFs & stocks from sectors that are expected to skyrocket on lower rates.
Gold price’s reversal this year has created opportunities in gold stocks. The SPDR Gold Shares ETF (GLD) had gained 11% year-to-date as of Friday.
Ray Dalio mentioned in a LinkedIn post on Wednesday that it's important for investors to explore the market paradigm in which they're currently operating.