Weekly Update 28 Mar 2025

Commodities were mixed, and gold stocks rose slightly, but everything else was in the red. The biggest gains were in silver, up 1.7%, followed by cotton, which rose 0.6%. The largest losses were in Ethereum, down 5.3%, followed by coffee and the Nikkei 225 index, down 4.8% each. The US Dollar (along with every other major currency) made new all-time lows this week, finishing down 1.9% at 10.1 mg.

The weakest national currency was the Japanese Yen, which fell 3.3%. The Chinese Yuan, Euro, and Loonie tied for the title of "least weak" currency, falling 1.8%. US Dollar cash (down 1.9%) underperformed long term bonds (down 2.5%) but not short term notes, which 'only' fell 1.8%.

The HUI gold stocks, up 0.1%, were the only equities in the green. The Nikkei 225 index dropped the most, giving up 4.8%, followed by the S&P 500 and the Euro STOXX50, which each closed down 3.4%. The Dow Industrials finished the week down 2.8%, the best showing among the major stock indexes.

The strongest commodities were silver, up 1.7%, and cotton, up 0.6%. The worst performers were coffee, down 4.8%, and copper, off 1.4%. Platinum fell 0.8% but palladium rallied 0.4%. Crude closed off 0.3%.

Cryptocurrencies moved lower, with alts falling much more than Bitcoin. Bitcoin ended down 1.5%, while Ethereum finished down 5.3%.