Whether stocks, gold or Bitcoin: high gains could be achieved this year with diversified investments. It could continue in this key.
Many investors look back fondly on the year that is coming to an end. Because there was Profits recorded across the board. Especially in the USA (see graphic) where the big ones Techwerte like the chip manufacturer Nvidia (price increase 200 percent) turned out to be the driving force and the indices Record values drove.
Also in Asia could Profits were made on many stock exchanges (based on euros), Europe and Vienna in particular lagged behind. “Compared to the European corporate landscape, they have ATX corporations with declines in profits to fight,” explains Jörg Bayer from Raiffeisen Research.
Trotz political uncertainties and a “Black Monday“The bottom line is that in August it was a very good year for investors. The reasons were in addition to the expectations in the Artificial intelligence triggered Tech-Hype the actually solid development of the US economy and the falling money market interest rateswhich make borrowing easier and thus support growth.
And also the choice of what is considered to be very business-friendly Donald Trump the next US president gave the stock markets another big boost in the last few weeks of the year.
Tariffs as a risk
But it is precisely this Trump that also counts for developments next year Risk. Because if he makes his tariff fantasies come true, this will slow down global trade and make products more expensive, including… Consumption suffers.
But it’s not that far yet. “The targeted one Corporate tax cut “From 21 to 15 percent, in combination with deregulation measures and the ongoing AI push, the profit dynamics of US companies should further accelerate,” says Bayer.
The economic engine is humming… in the USA
Beyond that there will be diffizil. The global economic picture is more heterogeneous than ever before. “While the economic engine is humming in the USA, Europe and China cannot get the sand out of their gears.” With regard to geographical allocation, everything continues to speak in favor of the USA. The scenarios for Europa are, however, of considerable importance Insecurities embossed.
After The industry Raiffeisen focuses on healthcare, finance and utilities. The AI hype will continue, but the shares have already become correspondingly expensive.
Bottom line Raiffeisen only expects the ATX to achieve an increase of 4 percent in 2025, the DAX around 6 percent, the Dow Jones and the Nasdaq each more than 10 percent.
Gold is aiming for the $3,000 mark
Gold was also able to achieve record values, both in Dollar (plus 27 percent annual performance) as well in Euros (plus 34 percent). It is currently $2,620. “I can imagine that we will see $3,000 next year,” says Ronald Stöferle from the investment company Incrementum.
Demand is currently very high Central banks driven, which would buy almost 30 percent of the annual funding. Geopolitical risks and interest rate cuts are also seen as price drivers. Because gold does not pay interest, falling interest rates increase demand.