A good week for gold, a bad week for crypto

Since last week: It was a busy week as Powell spoke, cryptocurrency slid, and gold continued its run. 

1. A Big Year for Battery Metals

The Biden administration recently announced new car emissions standards that will push the car market in the US more toward electric cars and hybrids. Among other things, these rules will allow plug-in hybrids to play a bigger role in the transition to electric cars and cut down on more than 7 billion metric tons of greenhouse gas emissions. Car companies will have to ramp up sales of their EV offerings, which is a boon for the metals that go in the batteries powering these vehicles. As an investor, you can learn how to profit from this trend by clicking here

2. Interest Rates Hold… For Now

As predicted, interest rates didn’t get cut at the latest Fed meeting. Instead, they remained at the same level with Chairman Powell indicating that three interest rate cuts are coming later this year. Markets surged on the news but there are still the longer-term effects to consider. Click here to learn all about what you can do to stay ahead of a constantly changing market

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3. Gold’s Continued Fortunes

Gold continues going strong, and it was given another boost this past week with the recent Fed news. It hit new all-time highs before pulling back slightly but is still holding well above the $2,100-per-ounce level. The sentiment for gold is still bullish and investors still have time to get in. Click here to learn more about how you can take advantage of gold’s continued rise

4. Crypto’s Rough Week

Liquidations all over the sector saw cryptocurrency prices dropping over the past week. Yet, for many, this presents a buying opportunity. The Bitcoin halving is drawing closer, and this is a catalyst for higher prices for the world’s leading cryptocurrency. And when Bitcoin’s value goes up during something like this, so does the value of many other coins. Click here to learn more about which coins to buy while they’re on sale

What to Look For

Confidence is high that rates will get cut even as inflation persists. We’ll see how that holds up.

Keep your eyes open,

Ryan Stancil

Ryan Stancil
Editor, Daily Profit Cycle