2024 began exactly as 2023 ended, the conflict in Ukraine is still going on and there are no signs of recovery in the Gaza Strip either. On the contrary, in recent weeks and months the situation has worsened with clashes in the Golan Heights and further interference by Iran. A possible escalation cannot be ruled out.
There was also some turbulence in the USA, apart from the foreign policy activities mentioned above. The defeated Joe Biden decided not to run for the highest office in the state and as soon as Kamala Harris took the stage for the Democrats, the poll numbers rose and she is already slightly ahead of Donald Trump. Due to weak economic forecasts, we had to record a mini-crash, or rather a correction, in July, but the stock market quickly recovered and is now striving for new heights, of course always with an eye on the presidential polls and global developments.
Another focus here is on the raw materials market. In July, crude oil was still at around $84, but we are now seeing a decline to around $75.
The precious metal gold, however, is still on the rise, recording new highs almost every week and currently at over $2500 per troy ounce. This shows us that many investors still prefer to invest in a safe haven rather than take risks. On the other hand, if risk appetite returns a little, there is considerable capital that can flow into the market.
VMJV is striving to diversify its investments accordingly and thus increase profits and minimize risk. The quarterly results for the second quarter make us positive in this regard and even for the rather sluggish third quarter, the forecasts currently look quite promising. Of course, as already mentioned, a lot depends on current global events, which we of course always keep an eye on; a possible compromise in Israel or perhaps even peace negotiations in Ukraine would of course boost the entire market and increase the risk appetite of market participants again.
