Macro Highlights July 27th 2015

Economic outlook - 7/28/2015

Our Investment Research Department publishes a weekly newsletter with a round-up on the main economic developments and news flow.

Markets : Should investors really hold onto gold?

Commodities have been clobbered lately. After discussing the fall in oil prices in last week’s issue of Macro Highlights & Strategy, here we will address the issue of gold. The gold price recently fell quite suddenly to $1072 an ounce, its lowest level in more than five years. (...)

Emerging markets : the rand sinks to a 13 year low

Ten years ago South Africa was humming along, with GDP growth averaging nearly 5%. Since then that rate has been more than halved. Though many of the factors underlying the slowdown are local, Africa’s second-largest economy (after Nigeria) suffers from other ailments that are characteristic of emerging countries in general. (...)