Investment Roundup – October 21

The macro backdrop continues to favour hard assets, but entry points are becoming less attractive as yield support wanes. Gold remains a strategic hedge against fiscal and policy uncertainty, though tactical upside now depends on fresh catalysts.
In FX, a mildly bearish USD bias is justified as rate differentials narrow, but investors should remain nimble and selectively express the view through high-quality domestic currencies such as SGD or CHF, which combine external strength with policy credibility.