Weekly Update 19 Oct 2018

A lower week for all assets except cryptocurrencies and two standouts: coffee, which continues to soar (up another 4.1%) and gold stocks, which rose 0.8%. The largest declines were in crude oil, which fell 3.8%, and the Nikkei Index, which was off 1.7%.

National currencies were all lower, led by the Canadian Dollar and Chinese Yuan, which dropped 1.3% each. The USD fell least, giving up 0.7%. 1-3 year bonds also fell 0.7%, in line with USD cash, and 20+ year treasuries were 1.3% lower.

Cryptocurrencies were broadly higher this week. Both Ethereum and Bitcoin rose early in the week, then gave back some of those gains as the week progressed. In addition to Ethereum's 2.9% rise and Bitcoin's 2.4% gain, privacy coins like ZCash, Zcoin and PIVX also rose.

Gold stocks gained 0.8%, but all the major stock indexes were lower, led by the Nikkei 225, which fell 1.7%. The Dow Jones Industrials fell least, giving up 0.3%.

Commodities saw the largest price swings, as coffee rose another 4.1% on top of the prior week's 5.6% gain, and crude continued to fall, dropping another 3.8% after the prior week's 5.3% drop. Metals were all lower, led by copper, off 1.5%. Palladium and silver dropped the least, falling 0.5% and 0.6% respectively.

Priced in Gold Weekly Summary

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