Yellow metal, green lights
by Andrew Hardy, CFA
Gold has outshone most other investments in 2020, having broken through to new all-time highs in July, surpassing levels last reached nearly 10 years ago. Year to date the bullion price has increased by 27%, trumping all broad equity markets and most other assets – only the tech heavy NASDAQ index has kept pace. Over five years, gold has risen by over 70%. Today’s market and economic conditions go a long way towards justifying these gains though and we remain committed holders within our multi-asset portfolios.
Market Snapshot
- After their best month since April, US equities fell back last week
- The CDC in the US has warned health officials to be ready to distribute a vaccine by the 1st November to at-risk individuals
- Brent crude fell -5.3% ending the week at $42.7 a barrel
- Gold fell -1.6% to end the week at $1933.9 an ounce