Cryptocurrencies declined, stocks and bonds moved higher, and currencies and national commodities were mixed. The largest gains were in gold stocks and long term bonds, which rose 2.4% and 1.9% respectively. The largest losses were in Bitcoin, which fell 3.7%, and coffee, which declined 3.2%.
National currencies were led by the British Pound and Swiss Franc (not shown in table), which gained 0.67% and 0.56% respectively. The largest losses were in the US and Canadian Dollars, which fell 0.2% each. Bonds did better than USD cash, as short term bonds were unchanged and long term bonds rose 1.9%.
Cryptocurrencies had a rough week. Bitcoin started out strong, rising to a high of 192.4 grams on Sunday, then sank as the week went on, finishing at 180.1 grams, down 3.7%. Ethereum and DASH (not in table) followed a similar course, although they held onto their highs until Wednesday before declining to finish down 2.2% and 2.4% respectively.
The big headlines this week covered the Dow Industrials breaking the 28,000 barrier for the first time. This hoopla was a non-event in the Priced in Gold world, however. Measured in gold grams, the Dow had a good week, rising 1.0%, but is down 5.6% from one year ago, down 15% from its 2018 high, and is 57% below its 1999 all-time high. Gold stocks performed much better, adding 2.4%, and now sit 18.5% higher than they did one year ago. The Japanese Nikkei was the weakest major stock index, declining 0.2%.
Commodities were mixed, but mostly lower, led by coffee, off 3.2%, and palladium, down 2.6%. The strongest commodity was crude oil, which gained 0.6%. Silver also rose, adding 0.2%.
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