Weekly Update 6 Jul 2018

This was a solid week for cryptocurrencies; commodities were mostly lower, and all other asset classes were mixed. Ethereum topped the charts, rising 8.3%. Copper suffered the largest losses, falling 5.0%. Platinum fell to a new all-time low before recovering to close the week down 1.9%.

Currencies were generally weak, although the Canadian Dollar was unchanged and the Euro rose 0.3%. Weakest was the Chinese Yuan, which gave up 0.7%. Bonds were mixed, with short-term SHY falling 0.5% and the long-term TLT rising 0.5%. USD cash was off 0.4%.

Bitcoin worked its way higher over the course of the week, finishing up 6.9% at 165.4 grams. Ethereum hit a high of 11.85 grams on Monday, dropped sharply on Tuesday, and recovered for the rest of the week, ending up 8.3% at 11.75 grams.

Equities were mostly higher, but the Japanese Nikkei fell 2.4%. The Euro STOXX50 gained 2.2%. Gold stocks rose 2.3%.

The only rising commodity was cotton, up 0.2%. Copper was hit hard, falling 5.0%. Platinum hit a new all-time low of 20.66 grams on Tuesday, but recovered to end the week at 20.76 grams, off 1.9%.

Priced in Gold Weekly Summary

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