Gold and the dollar were the best investments in April; see ranking

The month of April It was not easy for the bags, neither in Brazil nor in the rest of the world. You risk assets suffered, and even the bitcoin, which had been on a positive note throughout the year, closed the month on a down note. But while some cry, others sell handkerchiefs, and best investments of the month were precisely the protections in difficult times: the gold and the dollar.

In April, geopolitical tensions and the rise of future interest with fears about the monetary policy American overthrew actions, real estate funds It is public titles.

So much so that some of the worst investments of ranking of Your Money were precisely the papers of the Treasury Direct more volatile, securities IPCA+ Treasury long deadlines.

O Ibovespa closed the month with a drop of 1.70%, at 125,924 points, following the drops in American scholarships and European; and even the Real Estate Fund Index (IFIX)which had been performing well throughout the year, this time closed down 0.77%.

Higher future interest rates and the strength exhibited by american economy boosted the dollar even against strong currencies. Compared to reality, the american currency appreciated 3.53%, closing at R$ 5.19, at spot prices, and R$ 5.17, at PTAX.

Gold, on the other hand, continued its upward trajectory in the face of a momentary resurgence of the conflict in Middle East and purchases by the world’s central banks, closing up 6.74% (in the quotation of the Brazilian ETF GOLD11) and becoming the champion of the month.

At the bottom of the ranking, however, it was neither public bonds nor stock market assets that took the title of worst investment of the month. After a very strong first quarter, this place was occupied by bitcoin, which fell more than 10% in reais in the middle of the long-awaited month halving.

See the complete list of the best and worst investments of the month:

The best investments of April

Sources: Central Bank, Anbima, Tesouro Direto, Broadcast and Coinbase, Inc..

Gold price peaked in Iran attack, but reversed rise The first fortnight of April was marked by an escalation of tensions in the Middle East, which culminated in a terrorist attack. Will TheIsrael

. The direct involvement of the Iranians in the conflict was something that was greatly feared by the markets and was one of the factors that helped strengthen gold, an asset that tends to function as a hedge againstgeopolitical risk

.

But the impact of the attack on the prices of risky assets was limited, as it was more of a show of force, an offensive with virtually no victims and no further escalation.

So much so that, since then, gold prices have entered a downward trajectory, although not enough to undermine the metal’s good performance in the month. But the appreciation of commodity this beginning of the year is not just due to the geopolitical risk in the world; one of the major drivers of its prices is the purchase driven by central banks, notably that ofChina

which seek to protect themselves against the dominance of the dollar in international commercial and financial relations.

High interest rates in the US penalized risk assets What really negatively impacted the global markets – and the brazilian scholarship – was an increase in fears of fees high for longer U.S after economic activity data and inflation

strengths surprised investors in April. As a result, expectations of the start of interest cuts by Federal Reserve

were pushed even further forward, and are now mainly concentrated at the end of the year. There are those in the market who have come to expect only a 0.25 percentage point cut this year. Such fears led to the interest of US Treasury bonds(Treasurys ) upwards, also raising the future interest

here, and bringing down shares, real estate funds and public bonds fixed and indexed to inflation, which depreciate when estimates for rates rise. At the same time, the dollar strengthened, with the prospect that employee remuneration Treasurys

will remain attractive for a long time to come. The rise in future interest rates in Brazil also had a little domestic push: the announcement, by the Minister of Finance,Fernando Haddad that the fiscal target

2025 will not be a surplus, as expected, but rather a zero deficit. This forecast was frowned upon by the market, as it undermined confidence in the tax framework ofLula government raising thecountry risk

.

All these factors of pressure on interest rates led financial institutions to also revise upwards their outlook for the Selic at the end of the year and at the end of the cutting cycle.

Source: B3/Broadcast

Source: B3/Broadcast

Bitcoin reverses brilliant movement By the end of March, bitcoin had accumulated a 73% appreciation in reais in the year, driven by the appetite of institutional investors after the ETFs Bitcoin spot payments were released in the United States. But in April, this enthusiasm cooled with the increase in risk aversion

in the world. Another supposed reason for the increase in the first quarter was the prospect of thehalving an event that tends to reduce the supply of bitcoins on the market by reducing the reward for miners in thecryptocurrency

which tends to boost their prices.

But in April, the month in which the halving took place, the event itself had little effect on the price of bitcoin.