April Pressures Risk Assets

Gold lost 2.09% in April, a month marked by across-the-board outflows in many asset classes as volatility surged. By contrast, gold held in ETFs has increased sharply this year as the safe-haven flight continues. April was tough on many investment sectors, with the S&P 500 Index down 8.80%, the Nasdaq Composite Index declining 13.37% and U.S. Treasury bonds falling 3.10%. The U.S. dollar was one of the few beneficiaries as it neared multi-year highs.