Weekly Update 20 Sep 2019

Bonds reversed course this week, recovering some of last week's losses, but all other asset classes were mixed. Ethereum was once again the best performing asset, rising 20.5%, followed by gold stocks, which gained 7.0%. The worst losses were in commodities, as coffee fell 4.2% and copper slid 3.4%.

National currencies were little changed this week, with the largest move being a 0.6% drop in the Euro. In the table, the Japanese Yen made the largest gains, rising 0.2%, but the British Pound Sterling (not shown) did a bit better, adding 0.4%. The USD rose 0.1%. USD Bonds did much better, as the short term TLT gained 0.3% and the 20+ year TLT surged 4.0%, recovering much of the prior week’s 6.3% loss.

Bitcoin drifted lower, finishing the week down 1.6%, but Ethereum powered higher, soaring 20.5% and ending the week at 4.5 grams.

Gold stocks were the week’s biggest winner, both among the equities and overall, as the HUI gained 7.0%. The weakest index was the Dow Jones Industrial Average, which declined 1.0%.

Commodities were mostly lower, with crude oil, up 6.0%, and palladium, up 3.0%, the only gainers. Coffee and copper, down 4.2% and 3.4% respectively, had the largest losses, both within the group and overall. Silver declined 1.4% while platinum fell 1.6% to close at 19.5 grams/oz.

Priced in Gold Weekly Summary

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