A rally in the stock market and a stronger US dollar means there’s a temporary window to buy gold happening now. With no major news breaking this week so far, this is an excellent opportunity to add the precious metal to your portfolio at a favourable price, for those ready to move quick and take advantage of this slower summer period.
With the next major rate hike a few weeks out and corporate earnings reports not yet released, the markets are taking advantage of the summer lull to find a firmer footing after a year of losses. While lower oil prices are also helping to pull interest back to stocks in the short term, there are clouds on the horizon. The Empire State manufacturing report released on Monday further added to fears that a recession is barrelling down the road, while China has also rung economic alarm bells and announced plans to ease its monetary policy as a result.
Gold is trading solidly and looking to gain ground ahead of its next rally, making now an ideal time to add the precious metal to your portfolio. Don’t delay. Buy now.