Asset Prices Poised To Surge?
Investors watching Gold, Stocks & Bitcoin with bated breath.
10/16/20241 min read
With the Federal Reserve's September pivot and its first interest rate cut of 50 basis points since 2020, the M2 Money Supply is expected to rise in the coming months. Couple this with the fact that Beijing is now reportedly preparing a $6 trillion Yuan stimulus package to resuscitate its lackluster economy, and it appears that asset prices too are poised to rise in the coming months.
Gold, stocks and crypto investors are all hopeful of an uptick in prices beginning what is affectionately known in the community as "Uptober". Already, spot gold has hit a fresh all time high of $2,672 per troy ounce on 27 September while the S&P 500 has scaled a new peak at 5,870 points on 14 October.
Meanwhile the king of cryptocurrencies, Bitcoin, has yet to register a fresh all time high since reaching $71,285 on 25 March this year. BTC has been chopping sideways in the low $60,000 range for months now. Analysts expect this Q4 to be spectacular, given the history of Bitcoin prices in the last 3 months of the year. The fireworks are yet to be seen. This makes the coming weeks a period when crypto hodlers are intensely watching the price charts with bated breath.
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