Weekly Update 4 Oct 2019

Stocks were lower, while all other asset classes were mixed. Crude oil and platinum had the largest drops, falling 6.2% and 6.1% respectively. Long term bonds made the strongest gains, rising 1.8%.

Currencies were strongest in Asia, as the Chinese Yuan rose 0.8% and the Japanese Yen gained 0.6%. North America was weakest, with the Canadian Dollar dropping 1.2% and the US Dollar retreating 0.6%. Bonds outperformed cash; the short term SHY fell 0.1% and the long term TLT rose 1.8% – the best performance of any asset this week.

Crypto markets were calmer than usual. Bitcoin ended the week down 1.2%, and Ethereum finished up 0.9%. Some smaller cryptos had a rougher time; for instance, DASH (not in table) fell 3.2%.

Stock indexes were all down this week, but gold stocks outperformed, giving up just 0.3%. The worst losses were in Europe, where the Euro STOXX fell 2.1%. The Dow Industrials were down 1.5% while the S&P 500 declined 0.9%.

Commodities were almost all lower, except for cotton, which managed a 0.6% gain. Platinum dropped 6.2%, the largest loss for any asset this week. It was closely followed by crude oil, which fell 6.1%. Silver was little changed, off just 0.1%.

Priced in Gold Weekly Summary

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