Categories: General Market Commentary- DPC
Topics: General Market Commentary- DPC

Gold Surges While GDP Grows

Since last week: 

Recent US GDP growth shows the economy is still displaying some resilience. Now it’s just a question of how long that will last. 

1. A New Gold Record? 

Could gold be heading toward a new record? The price has been steadily climbing for the past few days and some experts think it could be working toward a new record. At its high, it was near $2,050 per ounce and market fundamentals are giving it room to go higher. Click here to learn how you can profit from that. 

2. The Digital Euro

The European Central Bank is looking to introduce a digital Euro, which will function as an online wallet or bank account. Those in favor are actively singing its praises and benefits but others are raising concerns about privacy and government control. An issue like this could cause a rise in the popularity of cryptocurrencies as digital currencies backed by governments gain more attention. Chris Curl offers insights into the kinds of crypto you should look at in this kind of environment.

3. Nuclear Plant Demand

Nuclear technology company Westinghouse Electric Co. has said that large-scale atomic power plants are in demand as utilities look to provide the public with low-carbon energy generation. The company’s CEO has revealed that utility companies have been talking with Westinghouse about its AP1000 reactors, which are already in service in China and are under contract in Poland. This shows that more people are realizing nuclear power is the way and that means a spike in uranium demand that investors can benefit from.  

4. Michigan Clean Energy - Blue Water

In Michigan, Governor Whitmer signed into a law a clean energy package that will have the state go to 100% clean energy by 2040. This comes behind recent strides the state has made to boost sustainable work, which led to around 5% in growth. Michigan joins a growing list of states taking these kinds of initiatives. They’re going to need the raw materials, like copper, to make the green future a reality. As an investor, this is where your money should go.

What to Look For:

Even with the recent GDP news, there are more rumblings of an economic slowdown in 2024. It seems to mostly be a question of how bad it will be.

Keep your eyes open,

Ryan Stancil
Editor, Daily Profit Cycle