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J.P. Morgan Private Bank's Chen Weiheng Likes Gold on Limited Global Oil Supply Risk from Venezuela Incident
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Chen Weiheng, Global Investment Strategist at J.P. Morgan Private Bank, said that, on 3 January, the US conducted a military strike against Venezuela, arresting Venezuela President Nicolas Maduro and his wife. Maduro and his wife are expected to face charges related to drugs and weapons in a US court. US President Donald Trump indicated that the action was a targeted measure against drug trafficking and security issues, and clarified that the US will participate in related affairs during the Venezuelan government's transition. The broker believed that the risk to the global supply landscape is limited. Despite the limited impact on output, geopolitical tensions may still increase investors' focus on safe-haven assets like gold, which remains a highly favored diversified allocation opportunity in the broker's stock & bond portfolio. AASTOCKS Financial News Website: www.aastocks.com |
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