Commodities were mixed and gold stocks were sharply higher, but all other assets were lower. Ethereum, which dropped 9.3%, had the largest losses. The best performers were gold stocks, which rose 4.7%, and silver which gained 2.2%.
The US Dollar and Chinese Yuan fell more than other national currencies, dropping 1.9% apiece. The Canadian Dollar fell the least, declining 0.7%. Short term bonds were down 1.9%, in line with the USD. Long term bonds did slightly better, falling 1.5%.
Ethereum fell from last week's 2.80 grams to 2.51 grams on Wednesday, then recovered to close at 2.54 grams, down 9.3%. Bitcoin hit its low of 81.3 grams on Thursday, then rallied to finish the week at 82.3 grams, off 4.9%.
Gold stocks rose strongly this week, as the HUI hit a high of 4.01 grams on Thursday before slipping to close at 3.99 grams on Friday, for a weekly gain of 4.7%. All the major stock indexes were lower, led by the Japanese Nikkei, which fell 1.5%. The Dow Jones Industrials lost 0.6%.
Soft commodities were hit hard this week, as coffee fell 4.7% and cotton declined 2.5%. Silver and crude oil were the largest winners, gaining 2.2% and 1.0% respectively.
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