Weekly Update 3 Aug 2018

Currencies and bonds were higher, stocks and commodities were mixed. Cryptocurrencies were hit hard, as Ethereum fell 10.4% and Bitcoin dropped 8.4%. The largest gains were in the S&P 500 stock index which rose 1.4%.

The Canadian Dollar led the currencies higher, gaining 1.2%. The Euro gained the least, adding 0.1%. USD cash rose 0.6% and long and short term treasury bonds each rose 0.7%.

Ethereum fell slowly at first, then accelerated on Tuesday and Wednesday, hitting a low of 10.4 grams on Thursday. It recovered slightly to close the week at 10.7 grams, down 10.4%. Bitcoin rose a bit on the weekend hitting a high of 208.9 grams, then started dropping each day, ending the week at 190.1 grams, off 8.4%. Since the close, Bitcoin has fallen faster than Ethereum, and as of Monday, Bitcoin was down another 5% while Ethereum was off about 2%. Other cryptocurrencies generally fared worse than BTC and ETH; for instance, DASH was down 12.9% for the week.

US stocks were higher, with the S&P 500 gaining 1.4% and the Dow Jones Industrials rising 0.7%, while the European STOXX 50 index fell 0.7%. Gold stocks were unchanged.

Platinum and silver rose 1.0% and 0.7% respectively, while copper and palladium dropped 0.9% and 0.5%. Coffee had the largest drop of any commodity, falling 1.8%. Crude oil rose 0.3%.

Priced in Gold Weekly Summary

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