Gold is the asset that generates the greatest consensus among analysts and investment strategy associates, as up to 40% of those surveyed believe it will be the most bullish in twelve months. The second asset that attracted the most agreement was Asian emerging equities with 20%, while European, US and Spanish equities and sovereign fixed income trailed somewhat behind.
The precious metal has been trading above $2,000 an ounce in this half of May and is up 10.60% so far this year. It is considered an asset that is inversely correlated with the dollar and a decline in the US currency is taking advantage of it, as are other factors such as the purchase of gold by China or the holding of rate hikes by the Federal Reserve of the United States. Done.
Chinese gold reserves increased by 260,000 ounces between April and March, while Chinese treasury debt holdings fell to $859.4 billion in January 2023, according to a report by China’s State Administration of Foreign Exchange cited by Chinese website Baijiahao. Which decreased to sixth place. consecutive month. The Asian giant has total gold reserves of over 66.76 million ounces.
Market sentiment: Conviction on gold, bearish on Wall Street stocks
One of the answers that generated the most consensus among analysts and investment strategy associates is the stock market that will get worse in the short term: Wall Street for 60% of those surveyed, followed by the Spanish stock market for 20%, European Equity for 10% and China for 10%.
Market sentiment: Conviction on gold, bearish on Wall Street stocks
As for which market will best develop in the short term, reactions are more divided. 30% believe it will be Japan and another 30% Europe, while the US accounts for 20%, Spain for 10% and Latin America for another 10%.
On Monday, the Nikkei 225 closed at its highest level in a year and a half as investors looked for stocks with strong returns, while a weaker yen also boosted investor confidence, potentially improving prices of exports from the Asian country. The Topix Headline Index is on the verge of reaching a three-decade high.
In Europe, the Euro STOXX 50 appreciated by 13.82% and far outpaced the S&P 500’s gain of 7.41% and the Dow Jones Ind. average of 0.46% achieved so far this year.
Market sentiment: Conviction on gold, bearish on Wall Street stocks
For a currency showing more strength over the long term, faith in the euro remains. 40% of those surveyed believe the EU currency will be the strongest in twelve months, 30% believe it will be the US dollar, 20% the Japanese yen and only 10% believe the Swiss Frank will do better than his fellow peers.
The euro appreciates by 2.10% against the dollar and 4.5% against the yen, although it depreciates by 1.9% against the pound sterling and 1% against the Swiss franc.
Market sentiment: Conviction on gold, bearish on Wall Street stocks
The latest sentiment survey for May among analysts and contributors to investment strategies aggregates opinion on short-term sentiment on the IBEX 35, S&P 500 and the US stock market in general and the Euro STOXX 50 and the European stock market in general. , For the IBEX 35, with 40% of the responses, the majority indicates that the behavior will remain neutral this month, as will the US market with a similar response rate.
Experts consulted by this publication are somewhat more positive with the Euro STOXX 50, as 50% of analysts and investment strategies associates believe that the Old Continent’s equities will rise sharply in the near term.
Market sentiment: Conviction on gold, bearish on Wall Street stocks
