Weekly Update 13 Dec 2024

Only Crude oil, up 5.2%, and Bitcoin, up 0.5%, made gains this week, all other assets were in the red. The worst losses were in long term bonds, down 5.3%, and coffee, down 4.3%, followed by the CCi30 crypto index, off 3.9%.

The US Dollar outperformed other major currencies, falling 0.8%. USD cash also outperformed treasuries, including 1-3 year notes, which fell 1.0%. The weakest national currency was the Yen, which closed down 3.2%.

Stocks fell, led lower by the Dow Industrials, down 2.6%, and the Nikkei 225, down 2.3%. Gold stocks outperformed, giving up just 0.3%.

Bitcoin continues to trade above the 1kg level, making a new all-time high of 1,194 grams on Sunday and finishing the week at 1,186 grams, just 0.7% short of that high. Platinum made another all-time low of 10.78 grams on Wednesday, but recovered to close the week at 10.84 grams, down 1.8%.