Is Your Money Safe in Your Bank Account? Should You Worry?
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Despite expectations that gold was headed higher, this weeks sell off in the precious metal is another indication of how economic challenges elsewhere in the world end up affecting investors everywhere. Typically during challenging times precious metals are often seen as a store of value. This simply means that when assets such as stocks, bonds or currencies are unattractive from a risk/reward perspective, investors and money managers migrate over to the shiny metal to hedge against market risk.
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Anyone who has been trading the markets or actively managing their investments have been taken on a roller coaster ride to say the least. Canadian banks were hit hard last week but that should come as no surprise as our weekly market outlook has been suggesting that a sell off in Canadian stocks was imminent.