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5 actions investors can take nowVideo

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Description: This week’s macro mania gave us confidence in our Mid-Year Outlook. Investors can respond with a diversified portfolio.

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Length (seconds): 101

Transcript: <h2>Note:</h2> <p>Background music plays.</p> <h2>On screen:</h2> <p>This video opens on a man in a dress shirt and black suit jacket, speaking from an office with a bookshelf.</p> <h2>Note:</h2> <p>A bold disclaimer appears in a text box:</p> <h2>On screen:</h2> <p><strong>INVESTMENT AND INSURANCE PRODUCTS:</strong></p> <ul> <li><p><strong>NOT A DEPOSIT</strong></p> </li> <li><p><strong>NOT FDIC INSURED</strong></p> </li> <li><p><strong>NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY</strong></p> </li> <li><p><strong>NO BANK GUARANTEE</strong></p> </li> <li><p><strong>MAY LOSE VALUE</strong></p> </li> </ul> <h2>Stephen Jury:</h2> <p>Here are your Top Market Takeaways.</p> <h2>On screen:</h2> <p>A circle with a title expands:</p> <h2>On screen:</h2> <p>Top <strong>MARKET TAKEAWAYS</strong></p> <p>A question appears over gray: 'Is this a golden era for gold?'</p> <h2>On screen:</h2> <p>An identifying text box appears over the speaker:</p> <h2>On screen:</h2> <p><strong>STEPHEN JURY</strong></p> <p>Managing Director, Global Investment and Commodity Strategist</p> <p>J.P. Morgan Wealth Management</p> <p>June 14, 2024</p> <h2>Stephen Jury:</h2> <p>Gold as an asset class has been popular throughout history. And we're optimistic on gold right now. Not as a hedge against risk, but because of the potential benefits of diversification that it brings to a portfolio of stocks and bonds.</p> <h2>On screen:</h2> <p>A graph appears, titled: 'Gold has pushed higher despite higher real rates.' Two vertical axes flank a horizontal axis representing years '16 through '24. The left-hand axis is labeled 'Gold price, dollar per ounce,' and has numbers 400 through 2400. The right-hand axis is labeled 'U.S. 10-year real yield, percentage,' and has numbers ranging from 2.5 to negative 1.5. A blue line sketches out the trajectory of Gold (LHS), while an orange line sketches out the 10-year real rate (RHS, INV.). The lines begin largely on the same course, straddling 1200 dollars per ounce in '16 for about a 0.5% yield, with gold above the 10-year real rate. They fall slightly until '19, when they start to rise, reaching a peak of almost 2400 dollars or negative 1% in '22. Midway through '22, the two paths cross, and the 10-year real rate continues a steady rise through '24, while the gold line drops to about 800 dollars or just over 2.5%.</p> <h2>Note:</h2> <p>Small text at the bottom of the graph reads:</p> <h2>On screen:</h2> <p>Source: J.P. Morgan Private Bank, Bloomberg Finance L.P. Data as of May 31, 2024. Note: Real rates are calculated as 10-year U.S. Treasury yield minus 10-year U.S. breakevens.</p> <h2>Stephen Jury:</h2> <p>Gold has been making record highs over the course of the year but has pulled back a little recently, and we think investors should think about adding the metal to their portfolios.</p> <h2>On screen:</h2> <p>Another question appears over gray: 'Why is gold moving higher?'</p> <h2>Stephen Jury:</h2> <p>In 2022, when Russia invaded Ukraine, countries with foreign policy not aligned with the United States began shifting their reserves to avoid the risk of having assets frozen by the United States. However, the list of alternatives to the U.S. dollar is a short one. Gold may be an option that ticks all the boxes.</p> <h2>Note:</h2> <p>A small disclaimer appears at the bottom of the screen:</p> <h2>On screen:</h2> <p>Metals Focus, Refinitiv GFMS, US Geological Survey, World Gold Council.</p> <p>*As of the end of 2022. Value calculated using the LBMA Gold Price at the end of the year.</p> <h2>Stephen Jury:</h2> <p>It's a large market of about $12 trillion, it's liquid, it's easily accessed and can be stored beyond the reach of rivals.</p> <h2>On screen:</h2> <p>A bar graph appears, titled: 'Central banks have been a strong source of demand.' The subtitle reads: 'Global central bank net gold purchases slash sales, metric tonnes.' The vertical axis ranges from numbers negative 50 to positive 1150. The horizontal axis represents years '10 to '23. A bar graph rises from each year, containing four colors that represent Q1 (blue), Q2 (teal), Q3 (orange), and Q4 (tan). With most purchases in the first quarter, the '10 bar rises to about 50. The next several bars have nearly equal purchases throughout the four quarters. The '11 bar reaches about 500, the '12 bar reaches about 550, and the '13 bar reaches about 600. The '14 bar drops a bit to 500, with the '15 remaining about the same. The '16 bar drops to about 350, with the '17 bar just below it. The '18 bar rises back up to about 600, with the largest percentage of purchases coming in the 3rd quarter. The '19 bar stops just below, with more purchases in Q2. The '20 bar drops again, this time to about 200, with the majority of purchases in Q1 and very little to no purchases in Q3. The '21 bar rises back up to about 400, with Q2 dominating purchases. The last two bars, '22 and '23, rise to about 1000, with most purchases in Q3.</p> <h2>Note:</h2> <p>Small text beneath the graph reads:</p> <h2>On screen:</h2> <p>'Source: World Gold Council, Bloomberg Finance L.P. Data as of Q4 2023.'</p> <h2>Note:</h2> <p>More small text under the graphic reads:</p> <h2>On screen:</h2> <p>'Metals Focus, Refinitiv GFMS, ICE Benchmark Administration, World Gold Council. Data as of December 31, 2023.'</p> <h2>Stephen Jury:</h2> <p>Consequently, Central Banks have significantly increased purchases of gold over the last two years to a number that is double the previous five-year average.</p> <h2>On screen:</h2> <p>A question over gray reads: 'Do we think this can continue?'</p> <h2>Stephen Jury:</h2> <p>We believe this may continue. We have been bullish for the last two years and we think this trend can extend for the next 12 months. We think there could be opportunities to buy gold on dips and we think it has potential to appreciate next year.</p> <h2>On screen:</h2> <p>A bulleted list appears below a title with a magnifying glass:</p> <h2>On screen:</h2> <p><strong>KEY TAKEAWAYS</strong></p> <ul> <li>It may be a good idea to consider buying gold on dips to help diversify your portfolio</li> <li>There are multiple ways to implement depending on what's most appropriate for each individual investor</li> </ul> <h2>Stephen Jury:</h2> <p>To learn more, please visit chase.com/theknow</p> <h2>On screen logo:</h2> <p>A logo appears over gray: J.P. Morgan WEALTH MANAGEMENT.</p> <h2>On screen:</h2> <p>To learn more, visit chase.com/theknow</p> <h2>Note:</h2> <p>Legal disclaimers.</p> <h2>On screen:</h2> <p>All market and economic data are sourced from Bloomberg Finance L.P. and FactSet unless otherwise stated.</p> <p>The views, opinions, estimates and strategies expressed herein constitutes the speaker's judgment based on current market conditions and are subject to change without notice, and may differ from those expressed by other areas of J.P. Morgan. This information in no way constitutes J.P. Morgan Research and should not be treated as such. You should carefully consider your needs and objectives before making any decisions --including whether the services, products, asset classes (e.g. equities, fixed income, alternative investments, commodities, etc.) or strategies discussed are suitable to your needs. You must also consider the objectives, risks, charges, and expenses associated with any investment or financial service, product or strategy prior to making an investment decision. For additional guidance on how this information should be applied to your situation, you should consult your advisor.</p> <p>Investing in securities involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved.</p> <h2>Note:</h2> <p>A disclaimer in bold reads:</p> <h2>On screen:</h2> <p><strong>Outlooks and past performance is not a guarantee of future results.</strong></p> <h2>Note:</h2> <p>The final disclaimers in regular font read:</p> <h2>On screen:</h2> <p>Investments in commodities may have greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked derivative instruments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Use of leveraged commodity-linked derivatives creates an opportunity for increased return but, at the same time, creates the possibility for greater loss.</p> <p>Asset allocation/diversification does not guarantee a profit or protect against loss.</p> <p>J.P. Morgan Wealth Management is a business of JPMorgan Chase &amp; Co., which offers investment products and services through (in bold) <strong>J.P. Morgan Securities LLC</strong> (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase &amp; Co. Products not available in all states.</p> <p>Copyright {{copyrightCurrentYear}} JPMorgan Chase &amp; Co.</p>

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