Click here for the PDF: The Weekly Beacon – March 8 2024
We will be giving some macro economic market updates on a weekly basis. No equity recommendations will be given in this commentary, and we encourage you to contact us if you have questions regarding any observations.
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This weeks issue: ESG outflows, ESG focus, ESG returns, Crypto market, Bitcoin, Bitcoin volatility, NFT market, Housing market, Case Schiller housing Index, Supply and demand in housing, Gold prices, Gold miners, Interest rate policy, Inflation, Bezos vs. Musk, Worlds richest man, Tesla circling the drain, Recession signal, Republican primary, EU trade, EU tarriffs on China, Trade war. Electric vehicles, Chinese auto market, Chinese exports.
Gold prices
Internet gold, Bitcoin hit its all-time high this week causing investors to rethink their allocation. The Bitcoin bulls continue to thump the table that the asset is the strongest storehold of value across financial markets.
Interestingly enough, physical gold prices, also hit all-time highs this week. Gold has historically been the strongest storehold of value and a hedge against instability and inflation.
The price of gold hit $2,125 on Tuesday and closed above $2,100 for the first time on Monday. Gold is now up 2.5% year-to-date, and 15% over the last year. The price of gold moved even higher Wednesday, hitting new highs above $2,140.
Despite hitting all-time high prices, gold is well below its other peaks in real terms that we saw in 1980, 2011, and 2020. This is a reference to higher levels seen when adjusted for inflation. 1980 gold prices would adjust to $3,200 today.
