October 2020 Newsletter: Gold Prices Hit Discount Levels in September, Tech Stocks Plummet: A Can’t-Miss Buy Opportunity
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Gold IRA Guide / Newsletters  / October 2020 Newsletter: Gold Prices Hit Discount Levels in September, Tech Stocks Plummet: A Can’t-Miss Buy Opportunity

October 2020 Newsletter: Gold Prices Hit Discount Levels in September, Tech Stocks Plummet: A Can’t-Miss Buy Opportunity

October 2020 Newsletter: Gold Prices Hit Discount Levels in September, Tech Stocks Plummet: A Can’t-Miss Buy Opportunity

We’re living in truly unprecedented times.

Social unrest has reached a fever pitch in many parts of the country. Domestic agitation and politically-motivated mass protests and street violence are rampant in cities such as Portland. 

In the east, Azerbaijan and Armenia have resumed armed hostilities. To settle the dispute, Russia and Turkey have threatened to get involved.

One of the leading coronavirus vaccine trials has been put on hold due to an adverse reaction in a test subject. 

To top it all off, the President of the United States has been hospitalized for COVID-19. 

At no point in modern history have financial markets been so precarious. It feels like, at this moment, anything can happen. 

The markets have responded accordingly.

Stocks fared poorly in September, with the S&P 500 falling from a high of $3,526 to $3,236 before making a slight recovery to finish the month. The fall was mainly due to a tech stock sell-off that saw Apple (AAPL), Amazon (AMZN), and Alphabet (GOOGL) lose 20% of their value in the month of September. Tesla (TSLA) also lost 13.9% last month.

Much of the stock market volatility in the past month was merely noise brought on by Q2 earnings reports and investors getting cold feet about overvalued tech companies. Overall, the equities market is set for recovery regardless of the November election outcome. 

In less than two months, we’ll have Q3 earnings reports on our desks. If they bring positive news, expect a major stock rebound that’ll wish you bought in today.

With investors unsure how to hedge their bets, the price of gold volleyed in September. The yellow metal reached a high of $1,960 per ounce on the 16th before bottoming out at $1,860 a week later. Since then, gold prices have been steadily trending upward. 

Gold’s still in the middle of a bull market that started back in 2019. If the second stimulus package goes forward, we expect gold to reach new heights as the U.S. dollar weakens from inflation. 

Now is the time to pick up discounted gold. As political and economic uncertainty continue to worsen, and the equities market suffers, the price of gold will almost certainly rise in the next one to two months.

Don’t miss out. Gold and precious metals are the only proven safe haven assets that are non-correlated to stock market performance. No matter the outcome of the vaccine trials or the presidential election, gold is set to hold its value in the months ahead. 

To get started investing in gold and silver, open a gold IRA today. This way, your assets can appreciate over time in a tax-deferred savings account. For greater diversification, add silver bullion to your IRA and capture more of the upside if global manufacturing returns to pre-COVID levels.

 

Mark T.

Mark T.

Mark has worked in the investment industry in Chicago and New York for over 15 years. After graduating from Chicago State University with a degree in Finance, he has occupied various management positions at reputable banks and financial institutions, including: Chase, Bank of America, Wachovia, Sterling Trust and Fidelity. His experience has led him to develop a keen understanding of the current economic landscape. For the past 10 years, Mark has been working as an independent investment advisor and has helped many Americans learn how to protect and grow their savings by properly diversifying their portfolios.

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