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Major U.S. stock indexes closed lower on Wednesday, continuing the downward trend from Monday’s significant selloff. The Nasdaq led the declines, dropping by 1%.
Investors were also analyzing earnings reports. Disney reported its first-ever streaming profit but cautioned that its theme-park business was facing challenges. Airbnb’s shares plummeted following a warning about the health of its U.S. customer base. Supermicro’s shares also fell, as the Nvidia partner’s impressive revenue failed to meet the high expectations of investors.
This continues the trends for the week:
- US stocks plummeted more than 1,000 points on Monday
- Major tech stocks lost over $1 trillion in value by midday EST.
- Bitcoin’s recovery is slow, down over $12,000 after nearly breaking $70,000 last week.
- The Federal Reserve is facing mounting pressure to implement emergency rate cuts.
- Bloomberg is saying this week’s “correction” didn’t go far enough and more carnage can be expected.
Amidst this turbulence, the stability of gold stands out as a beacon of reliability. With recent events causing such significant upheaval, gold’s consistent value offers a reassuring contrast.
Genesis Gold Group been sounding the alarm on these warning signs for a while now:
- US debt has surged past $35 trillion, increasing by about $1 trillion every three months.
- Inflation is spiraling, with the 3-month annualized core PPI inflation reaching 5.0% in June, the highest since 2022.
- Unemployment has risen to 4.3%, the highest it’s been in three years.
- Unrealized losses in banks now exceed $500 billion, threatening the stability of our financial institutions.
- Geopolitical tensions in the Middle East are rising, with potential for new conflicts involving the US.
- What’s next? Will the Fed resort to printing more money, further devaluing the US Dollar and exacerbating inflation and debt?
For many of our clients, today’s market chaos is just part of a larger, troubling trend. Gold remains remarkably steady compared to other assets. This underscores the importance of preparing for uncertainty.
Gold offers unparalleled stability. As a tangible asset, it remains resistant against the volatility of fiat currencies and digital assets. Historically, gold has preserved its value through economic downturns and market disruptions, proving to be a reliable store of wealth.
Given the current unsustainable economic situation, it’s likely that central banks will be forced to reset our currency, making gold even more crucial. Acting now can help you secure your assets before gold becomes harder to acquire and prices rise further.
If you’re ready to safeguard your wealth and gain peace of mind knowing your money is secure and under your control, now is the time to act. Request your free, definitive gold guide today.
