Weekly Update 29 Nov 2019
Stocks, bonds, and cryptocurrencies rose, while national currencies and commodities were mixed. The largest gains were in Bitcoin, which added 6.7%, and palladium, which advanced 4.1%. The largest losses were in crude oil, which dropped 4.2%.
The only falling national currency was the Japanese Yen, declining 0.5%. The Chinese Yuan was strongest, rising 0.5%. Although not in the table, even larger gains were to be had in the British Pound, which rose 1.1%. The US and Canadian Dollars gained 0.3% each. Short term bonds tracked cash, adding 0.3%, but long term bonds outperformed, rising 0.7%.
After several weeks of losses, Bitcoin and Ethereum both worked their way higher this week. Bitcoin gained 6.7% (the largest gain in the table) while Ethereum added 3.7%.
Among equities, the HUI gold stocks showed the most strength, rising 2.2%. The UK FTSE (not in table) added 1.4% while the S&P 500 rose 1.3%. The Japanese Nikkei was weakest, gaining just 0.3%.
Outside of Bitcoin, the main price action was in commodities. Crude oil fell 4.2%, the largest loss for the week. Silver and platinum also declined, giving up 0.9% and 0.5% respectively. However palladium rose 4.1%, and coffee gained 3.2%.
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