13.02 - safe havens are on the rise
What is waiting for us in the future? Well, tough times, that is for sure. With no doubt I can say that we are still not over the abundance of all of the crisis situations that are swirling above us. And even though we are trying to navigate our way through these tough times, it seems that we have even tougher times ahead. So. What is so bad?
Well, for example we can take a look at Chinese and Asian markets. Yesterday it was decided that from now on methods of determining the people who have contracted the coronavirus are going to be different. And as soon as the methods changed the number of sick people jumped by 15 thousand. Of course that had an ugly effect on the markets and their performance. We can see a steep decline in the Asian markets which signals about traders not being prepared for more of the virus.
In the meantime we can see that American stock market experiences a slight recovery after the fall that was taken by the segment yesterday. Of course we are still firmly looking at TSLA stock as its performance has been very interesting lately. Extreme gains and falls have become signature moves for the stock and we are still waiting that t is going to jump. And this time we do not want to miss the breakout.
Precious metals are growing once again, which is a welcome change from yesterday’s falls. But. We have to remember and understand that precious metals are safe havens and that their growth means one thing only – main assets are not withstanding the pressure and are ready to collapse which prompts us to act and to flee for safe havens. Growth in gold automatically means drops in USD. That is just how things are in the financial markets.
Are we ready to face more hardship that we already are? Well, unfortunately there is nothing we can do about it. We just have to be more cautious and try and stay away from volatile assets.
Here are the main changes in the numbers for today:
Topix declined 0.3 percent.
Kospi lost 0.2 percent.
Shanghai Composite decreased 0.7 percent.
Hang Seng from Hong Kong shed 0.3 percent
S&P 500 declined 0.5 percent.
Euro is by 0.3 percent weaker- $1.088.
Pound recovered 0.1 percent - $1.2979.
Yen added 0.1 percent – 109.75 per dollar.
Canadian dollar grew 0.1 percent - $1.3256.
Tesla decreased 0.9 percent - $767.29.
Apple added 2.4 percent - $327.2.
Facebook advanced 1.7 percent – $210.76.
Amazon advanced 0.4 percent – $2160 per share.
Google increased 0.6 percent - $1518.63.
WTI dropped 1.4 percent - $50.92 per barrel.
Brent decreased 1.6 percent - $55.36 per barrel.
Gold grew 0.6 percent - $1574.53 per ounce.
Silver added 1 percent - $17.65 per ounce.
Platinum was barely changed– $963.09.
Palladium dropped 0.3 percent - $2385.75 per ounce.