Weekly Update 24 Aug 2018
Bonds and national currencies were lower, with the exception of the Euro, which managed a 0.3% rise. Other asset classes were mixed. Crude oil and Palladium rose the most, gaining 2.6% and 2.5% respectively. Ethereum had the largest losses, falling 11.8%.
The Yen fell more than any other currency, giving up 2.3%. After the Euro, the best performing currency was the Chinese Yuan, which fell 1.0%. USD cash and short term US bonds dropped 1.6%, while long term bonds were off 0.5%
Bitcoin fell early in the week from 173.7 grams to 165.7 grams, then worked its way higher to close at 174.5 grams, up 0.5%. Ethereum began the week at 8.3 grams and dropped to a low of 7.1 grams on Wednesday, then recovered to close at 7.3 grams, 11.8% lower for the week. Many other major cryptos did even worse; for instance DASH lost 14.5% for the week.
Among the equities, European stocks were the star performers, rising 1.5%. Gold stocks also did well, gaining 1.4%. The Dow Industrials were the worst performers, giving up 1.1%.
Crude oil and palladium gained 2.6% and 2.5% respectively, outpacing all other assets. Silver had the largest decline of any commodity, dropping 1.9%. Platinum finished the week at 20.4 grams per ounce, down 0.7%, and just 0.1% above its all-time low.
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