Weekly Update 27 Jun 2025

This was a very upbeat week as war in the Middle East cooled off. Only crude oil, down 10.0%, and gold stocks, off 0.6%, were significantly lower. The week's best performers were palladium, up 10.2%, platinum, up 8.6%, and cotton, up 8.5%. Outside of commodities, the largest gains were in the Nikkei 225 index, up 8.0%, the Dow Industrials, up 6.9%, and Bitcoin, up 6.7%. The US Dollar rose 2.9%, and long term bonds advanced 4.0%.

The Chinese Yuan, up 0.7%, was the weakest national currency, followed by the US Dollar, up 2.9%. The Euro was the strongest national currency, rising 4.9%, followed by the Yen and the Canadian Dollar, which rose 3.3% each. USD cash was outperformed by treasury securities, as short term notes rose 3.3% and long term bonds climbed 4.0%.

Equity indexes, with the exception of gold stocks, all moved higher, led by the Nikkei 225, up 8.0%, and the Dow Jones Industrials, up 6.9%. Outside of gold stocks, which dropped 0.6%, the S&P 500 was weakest, rising 6.5%.

Once again, commodities saw the most violent price action, both positive and negative. Crude oil rose collapsed 10.0%, and palladium rose 10.2%. Copper gained 8.1% and silver closed the week up 2.5%.

Bitcoin rose 6.7%, and Ethereum rose 3.7%. The broader CCi30 index advanced 4.7%.