Weekly Update 11 May 2018

National currencies, cryptocurrencies, and bonds were all lower this week, while equities and commodities were mixed. Ethereum dropped the most, giving up 14.5% for the week. Palladium saw the largest gain, rising 3.1%.

The Japanese Yen fell more than any other currency, losing 1.4%. the Chinese Yuan dropped the least, closing off 0.3%. Bonds dropped the least at the long end, as TLT fell 0.9%, while SHY gave up 1.2% and USD cash fell 1.1%.

The last two weeks have been a roller-coaster ride for Ethereum, rising from 15.2 grams to a peak of 19.4 grams on May 5th, then declining gradually to close this week at 16.0 grams, off 14.5% for the week, but a bit above where it sat two weeks ago. Bitcoin followed a similar but somewhat weaker trajectory, rising from 211.5 grams to 234.2 grams on the 5th, and dropping 14.0% this week to close at 198.3 grams, more than 6% below its starting level.

US Stocks were strong, as the S&P 500 rose 1.3% and the Dow gained 1.2%. The Euro STOXX 50 fell 0.6%, and the HUI gold stock index dropped 0.7%.

Commodities saw the largest price moves (aside from the ever-volatile cryptocurrencies). Palladium rose 3.1% and platinum gained 1.6%. On the downside, coffee and cotton each fell 3.7%.

Priced in Gold Weekly Summary

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