ONE SIGNAL closed the week down 0.41% while the S&P500 narrowed the gap by another 4.00%. The week has been fruitful for most of the assets we’re tracking, except gold, which has lost some of its glow in the emerging hope that the economy wouldn’t suffer as much from Covid19. However, gold has remained the clear winner among the observed investment vehicles with over 12% plus since the beginning of the year.
The 50% higher volatility of the market than the long-term average and a de facto sideways movement of the prices indicate the nervous indecisiveness of the market participants. The gains of the past few weeks are waiting for new funds that could further fuel the price gains.
The oil price has almost doubled unnoticed by investors in the past two weeks. This could be interpreted as a technical reaction, but also as a reaction to political decisions by the states involved.