Commodities were mixed, while national currencies, bonds, and major stock indexes were lower this week. The largest drop was in cotton, which fell 6.6%. The biggest gains were in Bitcoin, which rose 8.6% (on top of a 15.6% gain in the prior week) and gold stocks, which added 1.6%.
Commodities were mixed this week, while major stock indexes, bonds and government-issued currencies were higher. Bitcoin, volatile as always, gave back all of the prior week's gains, falling 11.7% to 28.9 grams (though as of Tuesday the 14th, it was again above parity with gold). The largest gains were in the Euro STOXX, which rose another 3.1% to 920 mg.
The only serious declines this week were in precious metals and gold stocks. The largest gains were once again in Bitcoin, which rose 11.7% to a new all-time high of 32.7 grams, so that 1 BTC can now buy more than one ounce of gold. Gold stocks again fell more than any other asset-class, dropping 5.1% to close at 4.9 grams. The Dow Jones Industrials were headline news again, as the the Dow broke through the 21,000 mark as measured in US Dollars. More on the Dow and Bitcoin stories below.
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Stocks and government-issued currencies fell this week, while bonds and commodities were mixed. The largest gains were once again in Bitcoin, which rose 11.1% to 29.3 grams, now approaching parity with one ounce of gold. Gold stocks fell more than any other asset-class, dropping 4.7% to close at 5.1 grams.
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Government-issued currencies and bonds were all lower this week, but stocks and commodities were mixed. The largest gains were in Bitcoin, which rose 4.9%, more than making up for the prior week's losses. Cotton fell more than any other asset-class, giving up 4.2%.
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Currencies were all lower this week, but bonds, stocks, and commodities were mixed. Copper was the best performing asset, rising 4.7%. The largest losses were in Bitcoin, which fell 3.5%, giving back almost half of the prior week's gains.
This was a losing week for currencies and commodities, but mixed for stocks and bonds. Gold stocks made the largest gains, rising 7.0%, while palladium once again saw the largest declines, falling another 4.7%. Platinum also fell, dropping 1.8% to close at a new all-time low of 22.77 grams/oz.
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This was a mixed week in all asset categories, but much less violent than last week, with the largest gains and losses in the commodities.
From 2011 to 2015, stocks were in a mighty uptrend, with the DJIA rising from 184 grams to a high of 523 grams. In 2016, however, they have broken down through that uptrend line, and have closed below their 36 month moving average in each of the last two months. This is a strong sign that stocks are now entering a prolonged downtrend, and any extended rallies will be selling opportunities. See the full post for details and recommendations.
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This was a very strong week for everything except precious metals and gold stocks. Crude oil made the biggest gains, rising 8.5%, while gold stocks saw the largest decline, falling 9.4%.
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Another mixed week, in many ways a reversal of last week's trends. Currencies were mostly higher, while stocks were higher in the US, but lower in Japan and Europe. Commodities were volatile: crude oil again made the biggest gains this week, rising 9.5%, and the largest losses were once again in cotton, down 3.3%.