Gold Stock Investing Tips 2023
And, a new war in the Middle East.
Today is Monday, October 9, 2023.
The Early Bird Index today is 53.63.
New to this newsletter? Sign up here.
Gold Stock Investing Tips 2023
Investors should have at least some gold in their portfolio, says Simon Popple, Brookville Capital’s managing director, in a new episode of the Early Bird podcast.
Advantages: Popple says that gold is a great way to diversify a portfolio because it has intrinsic value and it is not tied to any one currency.
Disadvantages: Gold is considered to be a fear-based investment. Popple says that gold doesn’t provide direct income and its price can decrease just like any asset.
Powering the Story: What should investors look out for when investing in gold stocks? Keep an eye on large companies that invest in gold, Popple said. Investors should also carefully look at company balance sheets, resources, and infrastructure.
Going Further: With many gold stocks struggling this year, is this a good time to consider this asset class? Popple said that gold is a good investment because of its upside right now. And with gold stocks down, you are investing more at the bottom than at the top.
Final Thoughts: What advice does Popple have for investors looking at gold stocks? What’s the first step that investors should take? Find out by listening to a new episode of the Early Bird podcast.
Dollar Flight Club (Sponsored)
Dollar Flight Club is offering their Lifetime Membership for $129 (usually $1,690) for the next 24 hours. Lifetime Members get up to 90% off all flights for life! Fly roundtrip to Paris from $320, Hawaii from $197, and more. Get 93% off lifetime or try for free now.
Notable Earnings Today: Applied Digital (Nasdaq: APLD).
Notable IPOs Today: Renasant Corporation (NYSE:: RNST), Gamer Pakistan Inc. Common Stock (Nasdaq: GPAK), 99 Acquisition Group Inc. Class A Common Stock (Nasdaq: NNAG).
Notable Equity Crowdfunding Campaigns Ending Today: Garra Fish Spas (StartEngine).
Notable Economic Events Today: N/A.
Israel-Palestine Conflict: Stock Market Impact
With a new war in the Middle East that escalated over the weekend, investors should consider how this conflict might impact certain stock sectors and assets.
Oil: The first obvious sector to examine is oil stocks. There is a concern that this conflict could push up the price of oil due to enhanced global fear.
Defense: Another sector to look at is defense. If the war in the Middle East persists, some defense stocks could benefit.
Gold: Finally, during times of fear, some investors look at gold as a safe haven.
Final Thoughts: Overall, the markets could take a slight hit in the short term because of this expanded conflict.
Bitcoin’s Hope For $30,000
Is there any hope that Bitcoin, which is hovering around $28,000, will finally jump over the $30,000 mark?
Background: Bitcoin’s price is up 35% this year. But the price hasn’t surpassed $30,000 since July.
Powering the Story: Concerns about interest rates have blocked stocks in recent weeks, and now cryptocurrency prices are suffering.
Bullish: Crypto analyst TechDev recently pointed out on X that Bitcoin is in a position to break out.
Final Thoughts: Bitcoin is still far from its all-time highs, but investors are hoping for a late-2023 comeback.
Trends to Watch
Cruel Summer: Dismal Third Quarter for Bitcoin Lands It Second-to-Last in Returns (Decrypt)
Activist Investor Alert: Nelson Peltz Boosts Disney Stake, Seeks Board Seats (The Wall Street Journal)
Acquisition: HSBC Buys Citi’s $3.6 Billion China Retail Assets in Expansion (Bloomberg)
Destruction All Around: It's not just stocks - high bond yields are also laying waste to commodities, currencies, and housing (Markets Insider)
Thank you for reading!
Forward to a friend and tell them to sign up here.
Want more investing tips? Listen to the podcast.
Show Your Support: Buy Me a Coffee.
Questions or comments? Hit reply to reach out.