Cash was king this week, as national currencies rose, cryptos and bonds declined, and equities and commodities were mixed but mostly lower. The largest gains were in the US Dollar, up 4.1%, the Euro, up 3.8%, and the Japanese Yen, up 3.7%. The largest losses were in Ethereum, down 18.2%, the CCi30 crypto index, down 13.6%, and Bitcoin, down 13.5%.

Short term notes fell 0.5% and long term bonds dropped 0.8%. The Nikkei 225 added 0.4% while the S&P 500 fell 2.6%.

Crude oil rose 3.6% while coffee fell 7.2%, the largest moves in commodities. Palladium lost 5.6%, and silver was down 4.1%.

Stocks and bonds rose, cryptos declined, and national currencies and commodities were mixed. The largest gains were in gold stocks, up 5.0%, Japanese stocks, up 4.7%, and the S&P 500 and palladium, up 1.4% each. The largest losses were in crude oil, down 9.6%, Bitcoin, down 3.6%, and Ethereum, down 3.4%.

The US Dollar fell 0.9% while the Chinese Yuan gained 0.9%. Short term notes advanced 0.2% and long term bonds rose 1.3%. The Dow Industrials added 0.9%.

The S&P 500 and Dow Jones Industrial Average both closed the week at new all-time highs (when measured in US Dollars), but they are down 69.9% and 74.8% respectively, from their all-time highs when priced in gold.

National currencies and bonds fell, but all other assets were mixed. The largest gains were in silver, up 7.8%, the CCi30 crypto index, up 4.4%, and Japanese stocks, up 3.2%. The largest losses were in crude oil, down 11.2%, palladium, down 6.7%, and coffee, down 6.2%.

The US Dollar fell 2.2%, outpacing short term notes, down 2.1%, and long term bonds, down 1.7%. Bitcoin gained 0.3%, and Ethereum fell 1.7%. The S&P 500 advanced 0.1% while the Dow Industrials dropped 2.0%.

Looking back at values five years ago, only silver, up 14.1%, is worth more than simply holding gold coins or bars in a safe. Gold stocks deserve an honorable mention, almost breaking even, with a 0.2% loss. Every other asset is down double digits. The worst were the CCi30 crypto index, down 85.7%, palladium, down 80.0%, and Ethereum, down 74.4% (tied for third place with long term treasuries, down 74.0%.)

Precious metals, gold mining stocks, and Ethereum fell, but all other assets rose. The largest gains were in coffee, up 10.7%, crude oil, up 8.9%, and Japanese stocks, up 5.5%. The largest losses were in palladium, down 4.3%, platinum, down 3.8%, and gold stocks, down 3.1%.

The US Dollar rose 3.4%, outpacing short term notes, up 3.3% and long term bonds, up 2.9%. Bitcoin gained 3.8%, and Ethereum fell 1.1%. The S&P 500 advanced 3.9%.

National currencies and bonds fell, cryptos and stocks rose, and commodities were mixed. The largest gains were in Ethereum, up 6.2%, Bitcoin, up 5.9%, and Japanese stocks, up 4.3%. The largest losses were in crude oil, down 15.9%, long term treasuries, down 3.2%, and the US Dollar cash and short term treasuries, down 2.8%.

Silver rose 3.4%, and copper gained 2.6%. US stocks were little changed, as the Dow Industrials added 0.1%, and the S&P 500 gained 0.6%.

National currencies fell while other asset classes were mixed. The largest gains were in gold mining stocks, up 10.5%, crude oil, up 8.7%, and palladium, up 5.1%. The largest losses were in coffee, down 4.9%, the Chinese Yuan, down 4.1%, and the Canadian Dollar, down 3.4%.

The US Dollar fell 2.9%, matching the Euro. Treasuries outperformed USD cash, as short term notes were little changed and long term bonds gained 1.3%.

National currencies rose, cryptocurrencies declined, and other asset classes were mixed. The largest gains were in gold mining stocks, up 7.1%, the Chinese Yuan, up 5.4%, and cotton, up 4.5%. The largest losses were in Ethereum, down 6.0%, silver, down 5.1%, and Bitcoin, down 4.8%.

The US Dollar rose 1.3%, outpacing the Euro, but trailing the Yuan by a large margin. Treasuries failed to keep up with USD cash, as short term notes gained 0.1% and long term bonds fell 0.2%.

Currencies, bonds and cryptos rose, while stocks and commodities were mixed. The largest gains were in coffee, up 18.0%, Ethereum, up 13.4%, and cotton, up 13.0%. The largest losses were in gold stocks, down 5.7%, silver, down 4.4%, and palladium, down 2.0%.

The US Dollar rose 10.6%, but was outshone by the Yen and the Euro. Treasuries failed to keep up with USD cash, as short term notes gained 10.2% and long term bonds added 9.7%.

Currencies and cryptos rose, while other asset classes were mixed. The largest gains were in crude oil, up 10.4%, Ethereum, up 7.4%, and the CCi30 crypto index, up 6.1%. The largest losses were in Japanese stocks, down 2.7%, gold stocks, down 2.3%, and palladium, down 1.2%.

The US Dollar rose 1.6%, while short term treasuries gained 1.4% and long term bonds closed down 0.6%.

Stocks and bonds rose, cryptos declined, and national currencies and commodities finished mixed. The largest gains were in the Chinese Yuan, up 8.6%, gold stocks, up 3.9%, and the Dow Industrials, up 3.2%. The largest losses were in Ethereum, down 23.2%, silver, down 26.9%, and the CCi30 index, down 17.1%.

The US Dollar rose 0.7%, while short term treasuries gained 0.5% and long term bonds closed up 1.2%. This week, the Dow and the S&P 500 both hit new all-time highs when priced in US Dollars, but are down about 75% from their all-time highs against gold.