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.

This website is published by The Gold Safe Ltd, a Company registered in England and Wales with Company number: 11994725 a subsidiary of the United Kingdom Asset Company Ltd, a Company registered in England and Wales with Company number: 09784057 and is intended for information and promotional purposes only. The information provided in our free guide is not intended as an offer to invest and should not be construed as financial advice.

Fees: There are no fees for using this website or service.

Contact us: Tel: 0203 695 3400
Web: www.thegoldsafe.co.uk
Email: admin@thegoldsafe.co.uk

Address: 71-75 Shelton Street, Covent Garden, London WC2H 9JQ

All rights reserved copyright 2020 The Gold Safe Ltd

Follow us on:

    Wait! Before You Leave Download The 'Ultimate Guide to Gold Investing'
    FREE of Charge