The S&P/ASX 200 (ASX: XJO) hit another record high on Friday while US markets closed out their fourth straight month of gains.
As per usual, here are my three key investor takeaways from the week.
Gold back in fashion
Whilst all the attention in 2021 has been on crypto, gold bullion has quietly come back into fashion in recent weeks.
The commodity has rallied from USD$1,780 at the beginning of the month to over US$1,900 today as investors grow wary of clear bubbles in many asset classes and the perceived threat of inflation.
I have long been a proponent of gold for its diversification benefits, which is once again being appreciated by markets.
Featured video: Owning the GOLD, TECH & FANG ETFs
Landmark day for climate
Many are calling the week a ‘landmark’ for the decarbonisation movement, with two significant events occurring.
The first was a Dutch court ruling that Royal Dutch Shell (LON: RDSB), which is said to contribute 2% of all pollution, must abide by the Paris Climate Accords and cut emissions at twice the level they are currently targeting.
Exxon Mobil (NYSE: XOM) on the other hand saw a mutiny at its annual meeting with a small environmental activist group gaining two board seats on the giant company with the aim of pushing for larger investment in renewables.
Rich get richer
Finally, turnover on the world’s richest remained hot last week with the founder of Louis Vuitton Moet Hennessy (EPA: MC) overtaking Amazon (NASDAQ: AMZN) founder Jeff Bezos as his shareholding moved above US$190 billion.
In Australia, it was our two largest iron ore miners, Gina Rinehart and Twiggy Forrest with $58 billion in wealth combined.