Digital tokens and commodities were again mixed, while other asset classes were mostly higher. Bitcoin made the largest gains, rising 50.8% for the week to close at 399.3 grams. Cotton ended in second place, up 2.6%. The largest losses were in coffee, which fell 3.5% for the week, while gold stocks dropped 2.8% and platinum fell 2.6% to close at 22.2 grams per ounce, a new all-time low.
Digital tokens and commodities were mixed, while other asset classes were unchanged or higher. Bitcoin made the largest gains, rising 34.0% to close at 264.8 grams, a new all time high. The largest losses were in silver, which fell 2.6% for the week, closing at 0.4 grams per ounce.
This week, commodities were mixed, but all other asset classes were unchanged or lower. Bitcoin saw the largest drop, falling 9.5% to close at 159.1 grams after hitting a new all time high of 181.3 grams on Saturday the 4th. The largest gains were in coffee, which rose 1.5% for the week.
Currencies, bonds and major stock indexes were higher, commodities were mixed, and digital tokens stabilized this week. The largest losses were in coffee and silver, down 2.9% and 2.0% respectively. The biggest gains were in Ethereum, up 4.0%, and crude oil, which rose 3.7%.
Currencies, bonds and major stock indexes were higher, commodities were mixed, and digital tokens fell hard again this week. The largest losses were in digital tokens, as Ethereum fell 14.2% and Bitcoin dropped 12.1%. The biggest gains were in coffee and crude oil, which added 10.1% and 6.9% respectively.
Almost all asset classes were higher this week, with the exceptions of crude oil and platinum, which dropped 0.5% and 0.2% respectively. The largest gains were in digital tokens, as Ethereum rose 11.3% and Bitcoin gained 6.8%. Copper was also strong, adding 4.0% for the week.
Bonds, stocks, and currencies were lower, but digital tokens and commodities were mixed. Bitcoin rose 12.2% while Ethereum dropped 5.2%. Coffee was the weakest asset class, falling 9.4%.
The Canadian Dollar and Chinese Yuan were the best performing national currencies, off by 0.1% and 0.2% respectively. The Euro fell the most, dropping 1.1%. Bonds were lower, with the 20+ year TLT off 0.6%, the 1-3 year SHY losing 0.8% and USD cash (notes of zero maturity) dropping 0.7%.
I want to apologize for the rash of junk emails sent out last week, and thank you for your kindness and patience. Server problems aside, this was a good week for most asset classes, with only gold stocks moving significantly lower (the HUI was off 1.8%). The strongest gains were in the cryptocurrencies, as Ethereum rose 14.5% and Bitcoin gained 3.4%, following a week of volatility caused by concern over the Bitcoin hard fork that occurred on August 1st. Bonds, major stock indexes, and commodities were all higher.
National currencies and major stock indexes were little changed, while commodities and digital tokens (cryptocurrencies) were mixed. The biggest gains and losses were both in digital tokens, as Bitcoin rose 8.3% to finish the week at 67.8 grams while Ethereum fell 7.2% to close at 8.5 grams. Most equities were unchanged, but the European STOXX dropped slightly, and gold stocks bounced higher, rising 4.4%, erasing the prior week's loss and showing the second largest gain after Bitcoin.
Government-issued currencies and commodities were mostly lower this week, while bonds were mixed, and stocks were mostly higher. The biggest gains were once again in cryptocurrencies like Bitcoin, which rose 11.1% to close at 61.4 grams. The largest losses were in crude oil and coffee, which fell 5.0% apiece. Gold stocks also fell, dropping 2.4%, continuing the trend of the last few weeks.