Precious metals and gold stocks rose while all other assets declined. The largest gains were in platinum, up 8.5%, palladium, up 6.6%, and gold stocks, up 2.8%. The largest losses were all in crypto, as Ethereum fell 16.5%, the CCi30 index fell 13.9%, and Bitcoin lost 12.7%. Outside of crypto, the worst performers were cotton, down 8.0%, coffee, down 7.9%, and the Dow Industrials, down 7.3%. Cotton and coffee both closed at new-all-time lows.
The first full week of the new year brought an abrupt trend reversal, as precious metals, copper and gold stocks rose while all other assets declined. The largest gains were in palladium, up 8.9%, platinum, up 7.2%, and gold stocks, up 5.0%. The largest losses were in Ethereum, down 4.7%, the Canadian Dollar, down 4.5%, and the Euro, down 4.3%.
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The New Year has brought a mostly upbeat week, with only three assets declining: platinum, down 7.2%, palladium, down 6.8%, and gold stocks, down 2.2%. The largest gains were in cryptocurrencies, as Ethereum and the CCi30 rose 11.2% and 9.4% respectively, while Bitcoin gained 7.4%. Outside of crypto, coffee, up 6.4%, and crude oil and the Euro STOXX50, up 5.3% each, made the largest gains.
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Commodities were mixed; all other assets declined. The largest gains were in platinum, up 19.3%, silver, up 9.4%, and palladium, up 4.0%. The largest losses were in cryptocurrencies, as Ethereum and the CCi30 fell 5.9% each, while Bitcoin dropped 5.2%. Outside of crypto, the Japanese Yen, down 4.6%, and the US Dollar, down 4.3%, saw the biggest declines.
Wishing everyone a very happy and profitable New Year!
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Gold stocks and precious metals advanced; other assets declined. The largest gains were in silver, up 7.5%, gold stocks, up 3.3%, and palladium, up 1.4%. The largest losses were in coffee, down 4.4%, copper, down 4.0%, and the Japanese Nikkei index, down 3.1%.
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Cryptocurrencies moved lower, but other asset classes were mixed. The largest gains were in coffee, up 4.5%, and the Japanese Yen, up 1.1%. The largest declines were in Ethereum, down 10.3%, and the broader CCi30 crypto index, down 7.2%. Outside of crypto, the largest losses were in palladium, down 4.3%, and Japanese stocks, off 3.1%. The US Dollar rose 0.4%, outpacing treasuries; short term notes rose 0.3% and long term treasuries fell 0.4%.
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Another up week for the markets; the only decliner was coffee, off 0.5%. The largest gains were in Japanese stocks, up 7.9%, cotton, up 4.5%, and silver, up 4.4%. The Canadian Dollar was the hottest currency, rising 2.4%, followed by the US Dollar and the Chinese Yuan, each up 2.3%. USD cash outperformed treasuries; short term notes rose 2.2% and long term treasuries gained 0.5%.
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This week, markets reversed course, putting most assets in the green. The only decliners were silver, down 8.7%, gold stocks, down 4.7%, and palladium, down 3.7%. The largest gains were in crude oil, up 10.0%, the CCi30 crypto index, up 7.5%, and Bitcoin, up 7.3%. The US Dollar hit a new all-time low of 7.24 mg on Monday, then rallied to end the week up 2.9%. All other major currencies followed a similar trajectory, with the CNY rising the most, closing up 5.8%. Bonds outperformed USD cash; long term treasuries rose 3.2%.
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Once again, commodities were mixed, but all other asset classes were in the red. The week's best performers (and only gainers) were silver, up 0.3%, and coffee, up 0.2%. The largest losses were in Bitcoin, down 11.5%, the Chinese Yuan down 9.5%, and the CCi30 crypto index, down 9.3%. The US Dollar hit a new all-time low of 7.3 mg on Thursday, then bounced to end the week down 5.9%. All other major currencies also made new all-time lows, with the CNY hit especially hard.
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Commodities were mixed, but all other asset classes were in the red. The week's best performers (and only gainers) were palladium, up 12.5%, and silver, up 4.2%. The largest losses were all in crypto, with the CCi30 crypto index down 18.1%, Ethereum down 17.0%, and Bitcoin down 9.5%. The US Dollar hit a new all-time low of 7.7 mg on Wednesday, then bounced to end the week down 2.2%. All other major currencies also made new all-time lows, but the Japanese Yen was singled out for a special beating, closing down 6.0%.
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