Monthly report

April 03, 2024 - 2 min read

 

In the latest edition of our monthly report:

What is gold really worth?

  • The market capitalization of physical gold;
  • How do you value gold?; and
  • Emerging central banks set the tone.

 

Assessment of the economic situation
The US manufacturing sector returns to growth mode, buoyed by the construction sector. Inflation in Europe continues to fall, while in China, the economic recovery is gradually taking hold.

  • Inflation in Europe increasingly normalized;
  • Oil continues its rebound; and
  • BoE to cut rates in May, Fed and ECB in June.

 

Financial markets during the month
Equity markets rise for a fifthh consecutive month, as visibility on future central bank policy improves. Bonds stagnate, while gold “explodes” its all-time highs.

  • Eurostoxx 50 reaches highest level since November 2000;
  • The US 10-year slightly down at 4.20%; and
  • Precious metals and currencies.

 

Comments on investment decisions
The timing of rate cuts is now fairly clear. US economic activity and inflation are weighing on USD bonds, while equity markets should consolidate their gains of the last five months. Oil continues to rise, and gold is entering a new phase of bullishness, propelling it into another dimension.

  • Equities;
  • Bonds;
  • Precious metals, listed real estate (REIT); and
  • Currencies.

 

Performance summary

  • Equity performances, and
  • Performance of bonds, currencies and commodities.

 

Click here to read our monthly financial markets update report.

 

Disclaimer

This document is directed at Professional Clients and/or Qualified Investors as defined under the rules and regulations of the Financial Services Commission of Mauritius (FSC). PLEION Investment Adviser Ltd is licensed and regulated by the FSC.

This document is solely for your information and under no circumstances is it to be used or considered as an offer, or a solicitation of an offer, to buy or sell any investment or other specific product. All information and opinions contained herein has been compiled from sources believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy or completeness. The analysis contained herein is based on numerous assumptions and different assumptions could result in materially different results. Past performance of an investment is no guarantee for its future performance. This document is provided solely for the information of professional investors who are expected to make their own investment decisions without undue reliance on its contents. This document may not be reproduced, distributed or published without prior authority of PLEION Investment Adviser Ltd.