While a myriad of forces pushed the gold price around in 2018, it basically ended the year flat. This report recaps the year in gold, shows how it compared to other asset classes in both short and long timeframes, and explores the factors to watch in 2019.
The partial shutdown of the U.S. government continued this week, entering its 28th day as the war of words between Nancy Pelosi, the Speaker of the House of Representatives, and President Trump continued to heat up.
Markets remained volatile this week as the U.S. government shutdown continued, tying the record for the longest such shutdown in U.S. history. Contentious meetings between members of Congress and President Trump failed to make any headway in attempts to resolve the standoff over funding for his wall along the Mexican border.
It was a shortened week due to the timing of New Year but 2019 got under way with a clear picture of just how dysfunctional and gridlocked the U.S. government is going to be over the remainder of President Trump’s term, now that the Democrats have control of the House of Representatives.
The partial government shutdown in the U.S. continued throughout the week, and the situation only added to what was one of the most chaotic weeks of the year in the equities markets. This week closed out the final trading week of 2018 and the massive volatility in the final quarter of 2018 ensured that stocks ultimately underperformed on a year-on-year basis.
1. The ongoing chaos and gridlock in the U.S. government continued to foster an atmosphere of fear and uncertainty this week, keeping volatility in the equity markets alive and well. Stocks were on track for their worst December since the Great Depression in the 1930s. 2. The seasonally adjusted number of Americans filing initial claims…
Volatility in the global equities markets continued as weaker-than-expected economic data and the chaos surrounding Brexit fanned fears that the globally connected economy is headed for a slowdown.
The sight of hundreds of workers jamming themselves into cage-like elevators at Harmony Gold’s Moab Khotsong mine, which was featured recently on 60 Minutes leaves one uneasy.
I read a mainstream report about a decline in gold imports into Hong Kong, with the journalist concluding that gold demand in China is therefore down.
I’ve been a holder of gold since the 1970’s. At that time, I was purchasing gold and silver for business reasons and found that, as the price was steadily increasing, I would be wise to buy more than I needed immediately, as I would most certainly profit from it in the near future.