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There’s a touch of optimism permeating the equity markets as of late. The Federal Reserve recently halted its streak of rate hikes, having notched up 10 back-to-back increases in 15 months. Additionally, in May 2023, U.S. inflation dipped to 4%, and the S&P emerged from its longest bear market since 1948.
...Rewind to a few months back when Argentina basked in the glory of a World Cup triumph, their native son Leo Messi at the helm. Fast forward to mid-May 2023, and we find ourselves yet again riveted by Argentina, but this time, for a grimmer reason – an economic shocker.
...Days before we got word of April’s inflation figures, CNBC spotlighted the unwavering investment demand for gold as a reliable safe haven in uncertain economic times.
...Gold’s resurgence as a symbol of stability amid economic uncertainty and geopolitical tensions has recaptured the attention of investors and observers worldwide. Amid rapid de-dollarization and the collapse of financial institutions such as Silicon Valley Bank and Signature Bank, gold has experienced a significant rise.
...The collapse of Silicon Valley Bank (SVB) has renewed doubts about the stability of the U.S. banking and global financial system. At one point, SVB was the 16th largest bank in the U.S. and counted almost 50% of VC-backed startups as clients.
...Gold had a strong rally in early 2023, reaching a 9-month high of $1959 in February before declining to $1808 by the end of the month (-7.71%). However, industry experts believe that gold’s outlook has improved since then.
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