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On this Thursday, we take a long hard look at the U.S. economy’s future—what is in store, and what should metal investors do to protect their investments? One-billion-dollar asset manager chimes in—we have that for you on this hump day, along with some international news coming out of the gold market of India. This Diwali season, gold jewelers in Gujarat are expecting some shocking results in sales.
Let’s dig in…

Latest News
Gold Drops as U.S. Dollar and Equities Make Gains
For the past three days, gold has dropped. Meanwhile the greenback gained strength and tech stocks lowered the demand for yellow metal. The Bloomberg Dollar Spot Index rose as much as 0.4 per cent, holding on to its recovery from the 2018 lows reached on Monday. U.S. stocks rose as giant tech companies rallied in a shift back to the safety trade that powered this year’s gains amid speculation a virus resurgence will slow economic recovery. Yields on 10-year Treasuries climbed to within a few basis points of 1 per cent on Tuesday.
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Commentary
Platinum, Storage and Security
Here is a video Q&A with Lynette Zang from ITM Trading:
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Commentary
No Vaccine Can Protect You Financially from What’s Coming
Two analysts discuss what’s on the horizon as we watch central banks lose their traditional control. With a contested election and potential vaccine in the mix, what does this all mean for your investments? What does it mean for silver and gold? Listen in as Mike Maloney and Jeff Clark talk about the latest news and what it means for precious metals investors.
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International
Gujarat Gold Buying Expected to Drop in Half but Will Still Finish Higher Than Expected
Indian jewelers in Gujarat are preparing for a sharp decline in gold and silver purchases (almost 50%!) this Diwali season. The coronavirus pandemic is to blame. Due to higher gold prices and the overall slowdown, purchases of the yellow metal are expected to be much lower than the 2019 season. Despite this, most jewelers are happy with the customer footfall considering the overall economic slowdown.

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Economy
Here is a Macro Outlook on the 2021 U.S. Economy from Goldman Sachs Research
While the election dust settles, Goldman Sachs Research has updated its global economic outlook. It is above consensus forecasts for growth in most major economies in 2021. At the most basic level, Goldman Sachs Research views the coronavirus recession as much more V-shaped than previous postwar cycles. Just as the global economy rebounded quickly (albeit partially) from the lockdowns in the spring, the expectation is for the current weakness to give way to much stronger growth when European lockdowns end and a vaccine becomes available. One important assumption underlying the forecast is that governments continue to do a reasonable job replacing private sector income lost in the disruption. In the United States, Goldman Sachs Research expects a $1 trillion stimulus package, potentially enacted before…
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Commentary
Where Will Gold Go Next? This Billion Dollar Asset Manager Shares His Thoughts
“In my lifetime, the gold price has responded mostly to fear.” That’s Rick Rule, a 40-year gold industry veteran who now heads up the US division of $US17 billion asset management firm Sprott Inc. And so far in 2020, there’s been plenty of fear to go around. By June, 38 of the 141 gold stocks tracked by Stockhead had posted gains of 100 per cent or more, with 98 winners. That was before gold prices climbed above $US2,000 in August – a gain of around 40 per cent from March lows. Speaking with Stockhead from California this week, Rule offered his thoughts on the gold price outlook at what marks an interesting juncture in post-COVID asset markets. READ MORE ([link removed])
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