Currency, bond, and equity markets (other than gold stocks) were lower this week, while commodities were mixed. Crude oil's fall accelerated, while silver rocketed higher. But the most important price action this week was in the collapse of the long bond.
The markets were mixed this week, with bonds and currencies little changed, stocks generally lower, and commodities mostly higher. The HUI gold stocks moved up with the commodity complex; crude oil was the only commodity to close down for the week.
Most markets moved higher this week, led by Bitcoin and the Nikkei stocks. The exceptions were silver, coffee, and especially gold stocks, which fell more than any other investment class.
Currencies all rose, led by Bitcoin, up 10.9%, and the Japanese Yen, which gained 3.6%. The USD rose 1.7% to 23.8 mg, putting it 52.3% above its half-life curve. The CAD was the laggard, gaining back the 1.6% it lost in the prior week. Bitcoin trading was a bit more active, with an average 67 kg worth of BTC changing hands each day – about double the daily volume for the previous week.
Most markets were sharply lower this week; the exceptions were bitcoin, gold stocks, and silver. Most significant was the rise in the HUI gold stock index, which climbed all the way to 6.1 g before closing at 6.0 g, 15% above its recent low.
More on Market Update 26 Jul 2013: Gold Stock Rally Continues
Markets were mixed this week, with currencies lower and commodities mostly higher. Two things stand out: Gold stocks, which may be making a bottom, and silver, which continued falling to a new low for this move.
Markets were lower this week, with the exception of Bitcoin, which recovered all of last week's loss, and platinum, which was almost unchanged.
Bitcoin gained 28.5% to close at 2.34 g., erasing last week's big decline. Trading volume continued to rise, averaging about 108 kg per day. Expect extreme volatility to continue, but with an upward bias over the long term. Bitcoin still represents a unique value proposition, offering, like precious metals, an asset that is not anyone's liability… but with the ease of instantaneous transmission over the internet coupled with a cash-like level of privacy. As monetary disaster continue to unfold in Europe, Japan and the US, expect to see growing interest in Bitcoin.
After last week's monster surge higher, most asset classes took a breather and pulled back a bit this week. The exceptions were bitcoin, which suffered a stunning drop, gold stocks, which gave up almost all of last week's gains, and crude oil, which continued to power higher this week.
Bitcoin was the only falling asset this week, as the US Dollar surged against gold and other currencies, pulling most other assets up with it. Crude oil was especially strong.
Bitcoin gave back about a third of last week's gain, falling 5.5% to close at 2.53 g. Trading volume was slightly higher than last week, averaging about 78 kg per day.
Filed under Bitcoin, Bonds, Coffee, Commodities, Cotton, Dow Jones Industrials, EUR, Euro, gold prices, Platinum, price of gold, S&P 500, Silver, Stocks, US Dollar by 
Markets were mainly higher this week, with gold stocks and silver the only exceptions.
Bitcoin more than made up for last week's losses, gaining 18.8% to close at 2.67 g. Trading volume was light this week, averaging only 73 kg per day.
More on Market Update 21 Jun 2013: Gold Stocks and Silver in Free-fall
Markets were mixed this week, with currencies mostly stronger and stocks and commodities mostly lower. Cotton continued to lead the way higher, while the biggest decliner was once again Bitcoin.
Bitcoin dropped a further 10.5% to close at 2.25 g. Trading volume continues to grow, now averaging 108 kg per day. Expect more volatility – up and down – as volume increases.
