Weekly Summary 10 Jun 2016

The only rising asset classes this were coffee, up 4.8%, and silver, which gained 4.6%. All the others declined, led by copper, down 7.0%, and the Euro STOXX, which fell 6.5%. The next largest losses were in the Chinese Yuan, which dropped 4.8%.

All government-issued currencies were lower, led by the CNY, followed by the USD (off 2.7%) and the JPY and EUR, which each declined 1.4%. Short-term bonds fell 2.6%, while long-term bonds were down 1.6%.

All equity indexes were also lower, led by the Euro STOXX (down 6.5%). The S&P 500 fell 2.9%, while Japanese stocks dropped 1.6%. The HUI gold stocks had the smallest losses, falling just 0.9%.

Commodities were mixed, with coffee and silver showing the week's only gains – and strong ones, up 4.8% and 4.6% respectively – while copper had the week's largest loss, down 7.0%. Platinum fared better than palladium, falling 1.1% to Pd's 2.7% loss.

Since the end of trading on Friday, Bitcoin has gone on a tear. As I write this, 1 BTC is trading for 16.68 grams, up 18% in the last two days, while silver, platinum and palladium are all slightly lower.

Priced in Gold Weekly Summary

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