ETF Daily | Triple the NASDAQ ETF rose 5% in the premarket, and gold futures broke the $2,000 mark
Tech giants surpassed expectations and boosted the NASDAQ index. The NASDAQ ETF tripled and rose 5% in the premarket. It closed up 1.6% yesterday, with an amplitude of more than 5%. Gold and silver picked up, gold futures broke the $2,000 mark, and silver ETFs doubled and rose more than 7% before the market.
Gold futures hit record highs! Boosted by increased demand for safe haven and the most active contract conversion
Most analysts are still bullish on the price of gold. Goldman Sachs said the metal could reach $2,000 within the next 12 months. Citigroup believes there is a 30% chance that prices will break through this level by the end of this year.
Why is gold worth holding for a long time?
Increased volatility, increased uncertainty, and inflationary pressure are all good for gold, and long-term investors should now hold a portion of gold in their portfolios. In the past few months, although median inflation expectations did not show a clear trend in the impact of the COVID-19 pandemic, there was a significant increase in respondents' uncertainty and disagreement about inflation expectations. Although short-term deflation is unavoidable, respondents are divided about how long deflation will last: some think inflation expectations may rise suddenly within 12 months, while others think deflation will continue for at least 3 years. Therefore, in the short to medium term, asset prices
It's only up 69%! The gold bull market is far from over!
Authorities designated for global monetary policy, such as the Bank of Japan and the European Central Bank, are all interested in continuing to maintain considerable easing in a context where the prospects for the mitigation of the epidemic are still variable. This has made the continued strengthening of gold a source of hope.