Most asset classes were lower, but digital tokens shot much higher. Ethereum rose 38.2% and Bitcoin gained 24.8%, continuing to rise after the successful Bitcoin hard fork on August 1st. Bonds, major stock indexes, and commodities were all lower.
I want to apologize for the rash of junk emails sent out last week, and thank you for your kindness and patience. Server problems aside, this was a good week for most asset classes, with only gold stocks moving significantly lower (the HUI was off 1.8%). The strongest gains were in the cryptocurrencies, as Ethereum rose 14.5% and Bitcoin gained 3.4%, following a week of volatility caused by concern over the Bitcoin hard fork that occurred on August 1st. Bonds, major stock indexes, and commodities were all higher.
Digital tokens rebounded this week, as Bitcoin rose 18.9%. Stocks and currencies were mostly lower, while bonds and commodities were mixed. Outside of digital tokens, the biggest gains were in silver, which rose 4.0%; the largest losses were in crude oil, which fell 3.1%, reversing much of the prior week's gains.
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National currencies and major stock indexes were little changed, while commodities and digital tokens (cryptocurrencies) were mixed. The biggest gains and losses were both in digital tokens, as Bitcoin rose 8.3% to finish the week at 67.8 grams while Ethereum fell 7.2% to close at 8.5 grams. Most equities were unchanged, but the European STOXX dropped slightly, and gold stocks bounced higher, rising 4.4%, erasing the prior week's loss and showing the second largest gain after Bitcoin.
National currencies and bonds were higher, commodities were lower, and stocks and digital tokens (cryptocurrencies) were mixed. The biggest gains and losses were both in digital tokens, as Bitcoin fell 9.8% to finish the week at 62.6 grams (about 2 troy ounces) while Ethereum rose 33.4% to close at 9.2 grams. In equities, the US markets rose, while Europe and Asia fell. Gold stocks also resumed their downward trend, falling 4.3%, the second largest drop after Bitcoin.
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Most currencies, equities and commodities were higher this week, with crude oil, down 3.2%, being the biggest exception. The largest gains were once again in cryptocurrencies like Bitcoin, which rose 13.0% to close at 69.4 grams. The largest losses were in crude oil, but cotton, the Chinese Yuan, European stocks, and long term bonds were also lower. Gold stocks rebounded, gaining 3.2% and reversing the trend of recent weeks.
Government-issued currencies and commodities were mostly lower this week, while bonds were mixed, and stocks were mostly higher. The biggest gains were once again in cryptocurrencies like Bitcoin, which rose 11.1% to close at 61.4 grams. The largest losses were in crude oil and coffee, which fell 5.0% apiece. Gold stocks also fell, dropping 2.4%, continuing the trend of the last few weeks.
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Government-issued currencies and bonds were lower this week, while stocks and commodities were mixed. The biggest news and the biggest gains were once again in Bitcoin, which rose 13.0% to close at 55.3 grams (more on this below). The largest drop was in cotton, which fell 4.0%. Gold stocks continued to fall, dropping 2.2% on the heels of last week's 1.7% loss.
Stocks, commodities and currencies were mixed, while bonds were lower this week. The biggest gains were once again in Bitcoin, which rose 10.6% to close at 42.4 grams. The largest drop was in the Euro STOXX, which fell 1.9%, giving back much of the prior week's gains. Crude oil also reversed course, rising 3.2%, and recouping most of the prior week's losses.
Filed under Bitcoin, Bonds, Commodities, Dow Jones Industrials, Platinum, Silver, Stocks, US Dollar by
Commodities were mixed, while currencies, bonds and major stock indexes were higher this week. The biggest gains were in Bitcoin, which rose a whopping 18.1% to close at 38.3 grams. European stocks also soared, rising 8.2% in anticipation of a Macron victory in the French elections this weekend. The Euro was also the strongest government-issued currency, gaining 4.0%. Crude oil was down 3.4%, the largest drop for any asset class.
