Four months after the State Council, China’s cabinet, unveiled a nine-point document aimed at restoring investors’ confidence and attracting long-term funds, the market is back in a downward spiral after a relief rally. There are telltale signs of investors shunning stocks: turnover on the Shanghai and Shenzhen exchanges has plunged to a four-year low, the
Commodity price hits new high Lower rates a major driver Central banks have been buying For the first time in history a gold bar now costs $1 million after the London spot price for the precious metal exceeded $2,500 per ounce (a gold bar typically weighs 400 ounces). With interest rates set to fall globally,
Traditionally, a strong dollar and rising bond yields are not good for gold, which doesn’t have a yield of its own. Yet, the spot price of gold has been setting new all-time highs in recent months. On August 11, an ounce hit its latest record price of $2,475.72, up 20% from $2,063.75 at the end
Several ETFs at Wood’s firm, ARK Invest, bought a variety of tech stocks after they fell alongside a broader market drop. ARK Invest, which has $6.7 billion in assets under management, is an influential firm whose funds have fallen on hard times. Reports earlier this year showed investors pulled a total of $2.2 billion from