This week, commodities and currencies (national and crypto) were mixed, bonds were lower, and equities were mostly higher. Crude oil saw the largest price increase, rising 3.0%. Bitcoin fell the most, down 5.0%, but cotton was close behind, dropping 4.8%. Gold stocks made the second largest gains, rising 1.9%.
The USD was the worst performing national currency, falling 1.3%, while the Japanese Yen rose the most, closing up 0.5%. Short term bonds fell more than USD cash, closing off 1.4%, and long term bonds fell a bit less, dropping 0.9%.
After large drops in the previous two weeks, Bitcoin moderated its rate of fall this week, giving up just 5%. Ethereum continues to hover just below the 1 gold ounce level, finishing the week at 24.3 grams, up 0.2%
Only the Japanese Nikkei closed lower this week, off 0.2%. Gold stocks gained the most, rising 1.9% to close at 4.7 grams. The S&P 500 gained 0.9%, while the European STOXX rose 0.4%.
Crude oil continues its rise, adding 3.0% to close at 1.5 grams per barrel. Coffee also made good gains, rising 1.8% for the week. Cotton was the weakest of the commodities, closing down 4.8%. Palladium also fell hard, dropping 3.6% to close at 25.0 grams per ounce. Platinum fell 0.8%, while silver rose 0.7%.
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