Wells Fargo has made a bombshell change to its investment advice, recommending against real estate and firmly favouring commodities. The u-turn comes in the bank’s new 2020 Midyear Outlook Spotlight and cites a weaker US dollar and the long uphill battle for economic recovery globally amongst its reasoning for the shift. It says investors should look to higher quality, liquid assets at least through the end of the year, which invariably favours gold.
In a bigger boost for the precious metal, Wells Fargo’s John LaForge, the head of real asset strategy, said investors should avoid putting their cash in real estate indefinitely, explaining, “Impacts from the novel coronavirus have made many real estate sectors’ futures uncertain. From retailers struggling to pay rent to office space likely to shrink, the future for real estate does not look so rosy, even post-pandemic.
“A weaker dollar and U.S. leadership in a moderate global recovery lead us to our tilt toward U.S. assets in diversified portfolios. The slow recovery through 2021 continues to favour higher-quality, more liquid assets over more highly charged market segments.”
Heed this advice and buy gold now.
Inquire now and we'll send you the 
