The last 3 months turned out to be interesting on the Forex market. We saw a rapid weakening of the dollar, a rally on the stock market, and a rapid growth of commodity assets. But ultimately, what deals were the most profitable in the period from June 1 till August 31? We decided to find this out in cooperation with SuperForex analysts.
Gold was out of the top 3 best deals in the last quarter. Now this asset became number one. During the last 90 days, gold hit new highs; this rally seemed endless. All factors were in favor of gold – the weakening of the dollar on the one hand, and on the other – the negative economic situation in the world economy and the threat of a pandemic that could lead to a large-scale economic crisis in the future. Therefore, in the summer investors still bought gold as the safest asset, despite the active economic recovery in China.
If you bought gold on June 1 and closed the deal on August 31, you would have earned $23,254 per 1 lot, or $232.54 per ounce purchased. The actual yield for 3 months would be 334% with a price increase of 11.77%. However, this is far from the limit, because if you had closed the deal in early August, you would have made a profit of $31,854 or $318.54 per ounce, because in early August the rate achieved its peak at the level of $2,057.
All currency pairs with the USD brought traders a profit, provided they were against the dollar. The US currency lost between 5 and 7% in the summer months against major currencies. The leader in yield was the GBP/USD currency pair, reaching the top 3 best deals for the first time. This was a very unexpected result not only for us, but also for traders: among the tens of thousands of deals with the pound, only 5% were held for three months.
At the same time, thanks to leverage, it was enough to invest about $400 on June 1 to get $8,470 in profit after three months on each standard traded lot. The actual profitability amounted to 2149.74%. This asset could rightfully be considered number one. Naturally, it was ten times more popular among our traders than gold, but the deals with the yellow metal finally won thanks to yielding a bigger profit.
There is a reason why palladium finds its way on all of our lists of the most profitable assets. Despite the very high volatility and the need to have nerves of steel to hold the deals with palladium for a long time, the result exceeds all expectations. In just 3 months, the price of palladium has increased by12.87%. What other asset can boast of such an increase in price? Moreover, palladium, despite a certain correlation with gold, did not fall in price at the very end of the summer, but continues rising further.
The secret is that palladium is used in industry more, so there is a demand for it in mechanical engineering. With the active recovery of production activity in China, the demand for it is growing, in contrast to gold, which was considered overvalued once it reached $2,000 dollars. If you had opened a deal with palladium on June 1 and closed it on August 31, you would have made $28,751, or $287.51 per ounce purchased. The only drawback is the relatively high cost of investment – you had to invest $11,670 to buy 100 ounces (1 lot). But the actual return for three months is still impressive – 246.36%. That’s why palladium remains one of the best assets this summer.
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