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Where is Gold headed in the next 12 months ?
UBS's latest report predicts that gold prices in the future will . . .
Alok Jain
October 10, 2024
10 Oct 2024 · Thursday
Good evening, WeekendInvestor
We want to first pay homage to Mr. Ratan Tata, who left us yesterday. I think what I would like to say for a minute is that there are a lot of business folks, there are a lot of industrialists, but the kind of love he generated from everybody for himself and for his work is exceptional. People don’t remember him for the money or the wealth he generated, but for his contribution and for his moral compass being in the right direction throughout his reign at Tata Motors and Tata Investments. He was saluted by most Tata stocks today at 2:30 p.m. You can see Tata Investments up 8%, Tata Chemicals, Tata Coffee, and most others were also up in the morning, succumbing to some market pressure later on. There are a lot of inspirational messages that have come through his life, and I don’t think many view other industrialists or capitalists in the same light. He was truly exceptional, and my hats off to him, along with my condolences.
Today’s Daily Byte
Today’s daily bite, as I mentioned, will cover market happenings until 12:30 and will address the question: Is India’s gamble in equity going to pay off?
So far, you can see that the market is not really willing to go up. We are at 0.16% at 2:30 p.m., and the second shoulder that I was mentioning yesterday remains a possibility, which is a bit scary.
Reading Time : 4 Minutes
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Where is Gold headed in the next 12 months ?
Gold prices have been on a steady upward trajectory in recent months. This trend is reflected in the forecasts of major financial institutions, including UBS. The bank’s latest report predicts that gold prices will continue to rise over the next year.
UBS forecasts that gold prices will reach $2,750 by December 2024, $2,850 by March 2025, and $2,900 by September 2025. This represents a potential increase of around 10% over the next year.. . . . .
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This time is different from 2000 ?
The infographic presents a fascinating comparison between the current “Mag 7” tech giants and the top companies of the dot-com bubble in 2000. While both periods saw a concentration of market capitalization in a small group of tech stocks, the current concentration is even more pronounced.
Today, the seven leading tech companies—Microsoft, Apple, Nvidia, Amazon, Alphabet, Meta, and Tesla—account for a staggering 31% of the U.S. market cap. In contrast, . . . . .
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