Updates on how dynamic, risk-managed investment solutions are performing in the current market environment.
Gold sold off on Friday (1/8), closing just below the 200-day moving average at $1,835.40 per ounce.
The major stock market indexes finished mixed last week. The Dow Jones Industrial Average gained 1.4%, the S&P 500 Index rose 1.4%, and the NASDAQ Composite increased 0.7%. In contrast, the Russell 2000 small-capitalization index lost 1.5%. The 10-year Treasury bond yield and its price ended the week essentially flat. Last week, spot gold closed at $1,898.02, up $14.59 per ounce, or 0.8%.
Last week, the gold spot price was up 0.79% and the U.S. Dollar Index was down 0.43%.
U.S. equity markets posted gains in all three indexes last week. The S&P 500 gained 1.43%, the Dow Jones Industrial Average gained 1.35%, and the NASDAQ Composite gained 0.65%.
A short fragment of poetry over 2,600 years old set the academic world ablaze when it was cited in 1951. Attributed to one of the greatest Greek poets, Archilochus of the Greek island of Paros, was this simple phrase: “Πόλλ᾽ οἶδ᾽ ἀλώπηξ, ἀλλ’ ἐχῖνος ἕν μέγα.” The fox knows many things, but the hedgehog knows one big thing.