The turkey has finally been eaten, those last few chocolates left at the bottom of the tin are being polished off, and the Christmas season is drawing to a close. As the new year celebrations kick-off, many of us are reflecting on the year that has passed, as well as pondering the possibilities for the year ahead.
The Close of 2018
Well, 2018 has not been short of ups and downs! The world has seen many changes, both good and bad. We have seen ongoing political divisions both in the U.S. and Europe, continuing trade wars, the U.S. Fed continuing with its tightening programme, and a U.S. President who hasn’t had a great year to say the least.
I’m sure we don’t need to list everything that has happened in the world over this last year, but, as always, it has been instrumental in moving the spot price and impacting precious metals significantly throughout.
So, where are we now, at the close of 2018? Well, gold is closing out the year with a flourish! Gold is currently hovering around the £1000 mark. Often, there can be a bit of action with precious metals between Christmas and New Year, and it seems so again this year.
So, What’s Ahead?
Sadly, we don’t know. As always, we can speculate on what might happen but unfortunately, we don’t have a crystal ball to look into for inspiration.
At the moment, gold is strong and steady, but can it continue this way? Well, the outlook for the economy in 2019 doesn’t look great. There’s still a lot of uncertainty concerning Brexit, and the European Central Bank is said to be expecting the global economy to slow next year due to rising protectionism.
So, what does this mean for precious metals in 2019? Well, at the moment it looks good. We are optimistic! But who knows what might happen later? Our favourite precious metals do like to surprise us when we least expect it. For sure, we will see the usual ups and downs, but we must remember the purpose of holding these precious metals.
Whatever may happen in the next twelve months, we see no reason to change our long-held beliefs in the value of keeping a little of what we’re worth in Gold or Silver, as a safety net for a time when we may need it. Simple, really.
Happy New Year from all the team at Atkinsons!
This blog represents one person’s opinion only. Customers should conduct their own research and take advice before making an investment. We do not offer investment advice.