Weekly Update 23-Dec-2016

The week before Christmas was quiet for stocks, bonds, and most currencies, with few assets outside the commodities changing more than 1%. Bitcoin outpaced all other assets, gaining a whopping 17.5% for the week and closing at 25.2 grams. Palladium doubled down on the prior week's drop, losing another 4.9%, clinching the "weakest asset class" title. Gold stocks performed better than any of the major stock indexes, gaining 2.3%, still a distant second place behind Bitcoin.

The only currency to fall was the Canadian Dollar, which lost 1.1%. Bonds were higher, with the largest gains going to the long maturities for a change. The 20+ year TLT gained 1.1%, while the 1-3 year SHY gained 0.2%, and USD cash was little changed, up just 0.1%.

All equities were higher, led by the HUI gold stocks, which rose 2.3%. Next strongest showing was by the Euro STOXX, which rose 0.9%. The S&P 500 were the weakest equities this week, rising just 0.3%.

Commodities were hit hard this week. Only crude oil, up 2.2%, and platinum, up 0.2%, showed gains. The weakest commodities were palladium and coffee, which fell 4.9% and 4.4% respectively. Copper and silver were also lower, dropping 3.4% and 1.9%.

While you are relaxing and enjoying this holiday week with family and friends, take a few minutes to download the free Mining for Profits ebook, and pick up some strategies and techniques for improving your profits next year. Happy Holidays from Priced in Gold!

Priced in Gold Weekly Summary

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