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Gold’s Gleam: Caution Amid The Rally

by THEFUTURE.TEAM

February 26, 2025

Gold prices are surging, with the SPDR Gold Shares (GLD) fund up about 11% in 2025 and returns climbing roughly 42% over the past year. Gold futures, too, are on the rise—up around 10% year-to-date and 36% higher than last year. By contrast, the S&P 500 has barely moved in 2025, gaining only 1.5%, and has risen 17% over the past year.

Yet, as the allure of the precious metal intensifies, seasoned investors are urging restraint. Certified financial planner Lee Baker of Claris Financial Advisors recalls, “I didn’t get any calls from clients about gold a year ago. Now, I get them regularly.” He cites Warren Buffett’s timeless advice: “Be cautious when others are greedy, and be greedy when others are fearful.” Baker warns that while the current fervor is tempting, the typical investor should limit gold allocation to no more than 3% of a diversified portfolio—lest they fall into the classic trap of buying high and selling low.

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Why are gold prices on the rise? The answer lies in its enduring reputation as a safe haven during turbulent times. Investors flock to gold amid uncertainty, with recent US sanctions against Russia acting as a turbocharger for returns. These sanctions have spurred central banks, particularly in China, to boost their gold purchases instead of U.S. Treasury bonds, aiming to safeguard their reserves from potential geopolitical strife. Moreover, many see gold as a hedge against inflation, even though the data supporting that view remains mixed.

Samir Samana, senior global market strategist at Wells Fargo Investment Institute, notes, “In times of real crisis, bonds have shone brighter than gold.” His perspective underscores that while gold may shine during periods of high uncertainty, its rally might be unsustainable without a prolonged crisis.

For investors, the takeaway is clear: while gold’s current surge offers attractive returns, caution is paramount. As the market faces potential headwinds, following Buffett’s contrarian wisdom may help avoid the pitfalls of an overheated market. In the world of investing, where timing is everything, it’s not just about chasing returns—it’s about staying disciplined when the herd runs wild.

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EU Services Production Grows As Information And Communication Lead

by THEFUTURE.TEAM

November 10, 2026

Services production continued to expand across the European Union in August 2026, with information and communication recording the strongest annual growth. However, performance varied significantly between industries and member states, while Cyprus reported a mixed picture, with business services expanding and hospitality-related activities declining.

Information And Communication Leads Sector Growth

Compared with August 2025, services production increased by 5.9% in the euro area and 5.8% across the EU in information and communication. Transportation and storage also recorded growth, rising by 2.1% and 1.9%, respectively.

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Real estate activities increased by 1.6% in the euro area and 1.1% in the EU. Professional, scientific and technical activities grew by 1% in both areas, while administrative and support services advanced by 1.1% and 1.3%.

Accommodation and food services was the only major sector to record an annual decline, falling by 0.1% in both the euro area and the EU.

The monthly figures were more mixed. Information and communication remained the strongest performer, increasing by 1.2% in the euro area and 1% across the EU. Real estate activities rose by 0.4% and 0.9%, respectively, while transportation and storage edged up 0.1% in the euro area but declined by 0.2% in the EU.

Administrative and support services recorded modest gains of 0.2% in the euro area and 0.1% in the EU. Accommodation and food services fell by 0.3% and 0.4%, while professional, scientific and technical activities declined by 0.8% and 0.9%, respectively.

Slovakia And Greece Record Strongest Annual Growth

Romania recorded the largest monthly increase in services production, at 5.2%, followed by Malta at 1.8% and Portugal at 1.7%. Luxembourg experienced the steepest decline, with output falling by 5.1%, followed by Bulgaria at 2.3% and Denmark at 1.9%.

On an annual basis, Slovakia led with growth of 10%, followed by Greece at 9.3% and Malta at 7.5%. Hungary recorded the weakest performance, with services production declining by 5.6%. Denmark fell by 5.3%, while Italy recorded a smaller decrease of 0.3%.

Cyprus Sees Growth In Business Services But Weakness In Hospitality

Cyprus’ latest figures show a similar divide between expanding business services and weaker hospitality-related activities. According to the Statistical Service of Cyprus (Cystat), professional, scientific and technical activities recorded the strongest annual growth among the covered sectors in the second quarter of 2026, increasing by 3.4%.

Transportation and storage and information and communication both grew by 2.1%, while real estate activities rose by 1.6%. In contrast, accommodation and food services declined by 3.1% year on year, and administrative and support services fell by 2.2%.

First-half results were more favourable for several sectors. Between January and June, professional, scientific and technical activities grew by 3.5%, transportation and storage by 2.8%, real estate by 2.1% and information and communication by 1.3%.

Nevertheless, administrative and support services contracted by 1% over the six-month period, while accommodation and food services declined by 0.7%.

How Cyprus’ Figures Differ From Eurostat’s Data

The Eurostat and Cystat figures measure different aspects of economic activity and are not directly comparable. Eurostat’s services production index tracks changes in the volume of output, whereas Cystat’s Turnover Value Index for Services and Transport measures the value of sales at current prices.

The reporting periods also differ: Eurostat’s figures cover August, while the cited Cypriot data relate to the second quarter and first half of 2026.

Cystat transmits services production data to Eurostat but does not yet publish a separate national production index. Turnover figures therefore remain the main publicly available national indicator for the sector.

Taken together, the data point to continued growth in several of Cyprus’ business-oriented services, alongside persistent pressure on accommodation, food and administrative support activities.