Dividend Investing Weekly: Gold Hitting New Highs on Crumbling Currencies

You are receiving this email because you signed up to receive our free e-letter Dividend Investing Weekly, or you purchased a product or service from its publisher, Eagle Financial Publications. [Dividend Investing Weekly] [Cash Machine]( [Quick Income Trader]( [Breakout Profits Alert]( [Hi-Tech Trader]( Gold Hitting New Highs on Crumbling Currencies by Bryan Perry Editor, [Cash Machine]( 08/19/2024 Sponsored Content [Double Your Money In a Matter of Days With This Simple Pattern]( 100% in 3 days on Celgene... 100% in 3 days on CME Group... 108% in 3 days on Netflix... and even 127% in 3 days on Amgen. Anytime this simple pattern shows up, it's a sure tip that a stock's price is about to move. And our top trading expert has come up with a way to turn that advanced knowledge into massive winners. [Discover his secret here.]( As the stock market enjoyed a “V-bottom” rebound in the span of two weeks that has erased the losses from the trap door selloff of Aug. 2-5, there has been some other key developments worth noting the don’t really jibe with the nine-day runup in the stock averages. Typically, when the stock market celebrates tame inflation data (Consumer Price Index (CPI) and Producer Price Index (PPI)) coupled with a rosy monthly retail sales figure, there tends to be a “risk off” reaction in defensive assets, giving way to newfound “risk on” sentiment. With second-quarter earnings season in the record books, FactSet reported that the blended (year-over-year) earnings growth rate for the S&P 500 is 10.9%. If 10.9% is the actual growth rate for the quarter, it will mark the highest year-over-year earnings growth rate reported by the index since Q4 2021 (31.4%). A remarkably strong quarter that is part and parcel to the current rally spike lower during the first week of August was an overreaction to the confluence of events at that time that created the heightened level of uncertainty and fear. In support of the second-quarter numbers that are backward looking, and the rising chatter about the pace of an economic slowdown, it should be well noted that FactSet also measured just how concerned America’s top companies feel about a potential recession. And the quick answer is that the vast majority are not worried about a hard landing or protracted recession. “FactSet Document Search (which allows users to search for key words or phrases across multiple document types) was used to answer this question. Through Document Search, FactSet searched for the term “recession” in the conference call transcripts of all the S&P 500 companies that conducted earnings conference calls from June 15 through Aug. 15. Of these companies, 28 cited the term “recession” during their earnings calls for the second quarter. This number is well below the five-year average of 83 and the 10-year average of 60. In fact, this quarter marks the second-lowest number of S&P 500 companies citing “recession” on earnings calls for a quarter since Q4 2021 (15).” Once again, this kind of earnings call transcript data is by itself highly reassuring. Apparently, the abysmal Aug. 2 employment report (non-farm payrolls 114,000 versus 170,000 forecast and a 4.3% unemployment rate versus the 4.1% forecast) is no longer a serious concern. The weekly jobless claims data that followed came in line per consensus forecast. The next set of monthly employment data for August is due out Friday, Sept. 6. So, nothing really to worry about until then it would seem. [Move Over Bitcoin … This is the Next $1 Trillion Coin]( Now that Bitcoin has reclaimed its title of the world’s only $1 trillion crypto, former Wall Street analyst and investment banker Bryan Perry shares the next investment set to claim this historic feat. You can find the name of this investment for FREE in this presentation. Just hurry. Billions of dollars are about to flood in, and soon. [Get the full details here.]( The Yen carry trade has been reported to be unwound, to what extent is a large unknown, but the market is of the view it is, and yet even as the Yen retreated during the same past nine trading days that have seen the equity markets rebound, the chart of the dollar index (DXY) tells a different story. A feeble attempt to rally off the Aug. 5 low failed, and now it appears as if the greenback is rolling over. The Yen: And the dollar: To be fair, a view of the 20-year chart of the dollar index has a healthy-looking long-term chart. The 20-year chart shows just how the dollar has fared well against other major currencies over time. It’s just that the uptrend is tainted by the protracted deterioration of the Euro, the Yen, the Aussie Dollar (FXA), the British Pound Sterling (FXB) and the Canadian Dollar (FXC) over the same period. Only the Swiss Franc (FXF) has a chart other than the U.S. dollar that is in a multi-year uptrend. [How to know what to trade.]( With thousands of stocks in the market… How do you know which ones to trade? You may not believe this, but… You can ignore almost all of them, because when it comes to stock and options trading... This is [something valuable]( that tells you the few stocks that you really should be looking at. Your whole search and strategy can take less than 15 minutes. Which leaves plenty of time to do the other things you want to do during your day. If you want to learn more - this free live class will show you how. [Save Your Seat Here.]( Is this illustration simply the ferreting out of the least dirty currency in the global basket currencies that dominate trade outside China? It’s not meant to be, but rather an observation that might explain why the price of gold is trading to new all-time highs. As of last Friday, the price of gold closed at $2,538/troy oz and is experiencing an upside breakout that is taking into account a number of risk factors. It is being reported that central banks are the biggest buyers of gold. “Central-bank demand for gold has surged in the past five years, swallowing nearly one in every 10 ounces produced by the mining sector on official data,” Adrian Ash, BullionVault’s director of research, said in a commentary this week. The total quantity of gold held in central-bank reserves has increased by almost 19% by weight since the summer of 2004, and it’s jumped seven-fold -- to $2.4 trillion in U.S. dollar value -- led by Russia, China, India and Turkey, according to Ash. The continued buying of gold is “at or very close to exhausting the ‘free-floating inventory’ of tradeable gold,” Paul Wong, market strategist at Sprott Asset Management, told MarketWatch. The quandary here is that if inflation is coming down, Fortune 500 C-Suites are confident there is no recession on the horizon, then it stands to reason that the confluence of more Fed rate cuts than currently thought are coming, risk of further currency devaluations, the Middle East is about to morph into a regional war from a northern invasion by Hezbollah into Israel and the lack of purpose to address the spiraling federal deficit are providing the mix of catalysts for the bullish move in gold. The stock market’s resilient move back towards the previous highs is most welcome, and yet, investors may want to add some of the yellow metal to their portfolios given the size and scope of the events occurring around the world and at home. Gold is a time-tested hedge that is making a sudden move higher. Something to think about. Sincerely, [bryan-perry-sig] Bryan Perry Editor, Cash Machine Editor, Premium Income PRO Editor, Quick Income Trader Editor, Breakout Options Alert Editor, Hi-Tech Trader Editor, Micro-Cap Stock Trader About Bryan Perry: [Bryan Perry]Bryan Perry specializes in high dividend paying investments. This weekly e-letter combines his decades-long experience in income investing with a simple, easy-to-read format that investors of all stripes can work into their portfolios. Bryan also serves as Editor of these services: [Cash Machine]( [Premium Income PRO]( [Quick Income Trader]( [Breakout Profits Alert]( [Hi-Tech Trader]( and [Micro-Cap Stock Trader](. 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