Profit When Markets Succumb to Fear

 

The good news for gold investors is that the safe-haven metal is outperforming traditional financial assets. Stocks are collapsing at an unprecedented rate, while ostensibly “risk-free” Treasury bonds are falling in value. 

The Federal Reserve’s rate hike last Wednesday failed to persuade investors that the central bank can control inflation without destroying the economy. 

Jerome Powell’s remarks insisting that the economy is not vulnerable to recession were intended to persuade the general public, but they failed miserably – especially given the Fed chairman’s poor forecasting track record (“transitory” inflation has proven to be more like intractable inflation).

Sentiment indicators show that the general public is extremely pessimistic. Most people believe the country is heading in the wrong direction and are critical of President Joe Biden’s handling of the economy. 

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