Suffice to say the second quarter of the year has not taken off where the first ended. It has been a rough start to the month for various asset classes, as high inflation as well as stronger than expected economic data lead many to believe the Federal Reserve’s commitment to three interest rate cuts this year is now looking a little optimistic. The Dow Jones was the worst hit of the big three yesterday, closing a full percentage point in the red by the time the closing bell rang. The Nasdaq Comp wasn’t far behind, losing 0.95% by Tuesday’s close; the S&P 500 faring slighting better with a more modest 0.72% loss.
Utterly unfazed by the threat of continued monetary tightening, gold opened the new financial quarter with exactly the same flair it ended the previous one. Seemingly immune to market closures or indeed any other factors, gold gained another $18 on Monday and a further $29 yesterday to close at $2,280 an ounce. Not a bad start to the month.
Staying with commodities, geopolitical concerns once again pushed oil prices higher early this week. On top of the continued drone strokes on Russian refineries, yesterday Iran entered the fray after it blamed Israel for the airstrike on its consulate in Damascus. Moreover, several voices have joined the choir forecasting increased global demand this year, leading many financial institutions to view oil in a more bullish light. Brent crude broke above $88 a barrel yesterday while WTI challenged $85.
Advertencia de riesgos : Productos derivados del trading y productos potenciados poseen un nivel más alto de riesgo.
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