Goldilocks

Aug 21, 2020 | Mark Ryan


Share

Good afternoon,

 

BC’s rich relationship with gold is back in centre-frame, its value climbing from $1479 on March 19th, to a peak (so far) of $2076 a few days ago. That 40% climb is about on par with the S&P 500’s rebound in the same period. And although YTD, gold is the winner, it’s left in the equity market’s dust when values are compared over the past 10 years. But that immutable sheen is real, and its solidity is something that equity markets only dream about when otherwise having a nightmare. There’s a reason Fort Knox isn’t just stuffed full of Amazon shares.

Is it too late to get in? Next week I’ll share some interesting data, as well as RBC’s prognostics for the theme, and (spoiler alert) as you might have guessed, its future all boils down to COVID-19, and that’s a big variable. But this isn’t to write the idea off altogether. More to come.

Speaking of COVID-19: Here’s a 20-minute analysis from our Capital Markets medical expert.

 

Audio commentary: Update on COVID-19 and the race to develop a vaccine

Dr. Kennen MacKay, Managing Director and Co-Head of Biotechnology Research for RBC Capital Markets, joins Janet Engels, Head of RBC Wealth Management’s Portfolio Advisory Group – U.S., to talk about where things stand with COVID-19. They zero in on the data on the number of cases, and discuss how close we are to a vaccine as well as the impact of the race to find effective treatments, now and in the future. Janet asks the question on all our minds: “When will we be back to normal?”  Listen here (approximately 20-minutes).

 

The Canuck-o-Coaster is on the TV again tonight, and the feisty youngsters are in position to knock out the champs, or by Monday they could be chumps.

 

Enjoy your weekend!

 

Mark