Weekly Update 27 Dec 2019 Happy New Year!
Most assets were lower this week; the only exceptions were gold stocks, up 5.9%, and silver, up 2.4%. The largest losses were in palladium and Ethereum which fell 3.6% each. Long term treasury bonds fell 2.4%, making them the next worst performing asset in the table.
National currencies all fell, led by the Japanese Yen, which declined 2.3%. The Canadian Dollar and Euro tied for the best performer spot, falling 1.5% each. The US Dollar dropped 2.2%; short term treasuries did slightly better, giving up 2.1%, and long term treasuries did slightly worse, falling 2.4%.
Cryptocurrencies also declined. Ethereum rose to 2.78 grams on Dec-22, but then started falling, ending the week off 3.6%. Bitcoin declined 1.2% following a similar trajectory.
Gold stocks were the week's biggest winner, surging 5.9%, but all other major indexes were lower. The Nikkei fell the most, dropping 2.2%. The Dow Industrials closed down 1.5%.
Silver gained 2.4%, but all other commodities closed lower. Palladium was the weakest, falling 3.6%. Copper was down 1.3% and platinum was off 1.1%.
Wishing you all the best, hoping that 2020 will be a very happy and successful year: a strong start to an excellent decade! Thanks for being part of the Priced in Gold family!
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