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.
Stocks continued to be extraordinarily volatile this week despite what appeared to be a relatively successful meeting between US President Trump and Chinese President Xi Jinping at the G20 conference in Buenos Aires over the weekend. The trading week was shortened in the U.S. due to a national day of mourning that was declared to honor former US President George H.W. Bush who passed away on November 30.
Volatility continued this week ahead of the G20 meeting in Buenos Aires this coming weekend. Trade frictions continued between the U.S. and China and new developments between Russia and Ukraine added to further global unease.
Liberal economist Paul Krugman proclaimed earlier this year that “gold is dead.” An Economist article stated that “there is no point in investing in gold, any financial investment is better.” And Warren Buffett, one of the most successful investors of modern times, has never liked gold.
It was a short trading week in the U.S. due to the Thanksgiving holiday. U.S. markets were closed on Thursday, and opened for a shortened day on Friday as retailers geared up for a hoped-for rush of shoppers to kick off the holiday shopping season.