Cryptocurrencies rose strongly again, bonds declined, and national currencies, equities and commodities were mixed. Ethereum soared 18.3% and palladium jumped 16.5%, the largest winners this week. Coffee fell 6.0% and gold stocks declined 1.3%, making them the worst losses.

Among national currencies, only the Chinese Yuan made gains, rising 0.5%. The largest decline was in the Japanese Yen, which fell 0.8% to the lowest level since 1980. The Euro, the Canadian Dollar, and the Australian Dollar (not in table) all are just a hair above their lows of the same period.

Bonds fell; the short term SHY slid 0.2% and the long term TLT declined 0.6%.

Cryptocurrency prices continued to move higher, with the smaller "alt" coins rising faster than Bitcoin. While Bitcoin rose 9.1%, Ethereum advanced 18.3%. Some smaller coins gained much more; DASH, for example, more than doubled in value, rising 101.6%. Many other small coins added 50% or more. The reasons for this are not clear to me. Most of the move occurred on Tuesday the 14th, and might be related to the opening of CME Bitcoin options trading. Concerns that Craig Wright may have acquired the private keys to Satoshi's 1.1 million BTC hoard may have prompted diversification out of Bitcoin and into altcoins. If true, and a large number of Bitcoins were dumped on the market, it would certainly depress BTC prices temporarily; but the inexorable halvings and consequent increases in stocks-to-flow ratio still should eventually push Bitcoin prices to new highs. It will be interesting to see how this all plays out!

The only equities to fall this week were the gold stocks, which declined 1.3%. The S&P 500 and Dow Industrials showed the most strength, rising 1.7% and 1.6% respectively. The Japanese Nikkei index was unchanged.

Commodities were a wild mix. Palladium and platinum were big winners, rising 16.5% and 4.6% respectively. On the other hand, coffee fell 6.0% and crude oil declined 1.1%. Silver and copper managed modest gains of 0.6% and 0.9%.

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This week saw a massive updraft for cryptocurrencies and a mix of gains and losses in commodities, while stocks, bonds and national currencies moved lower. Bitcoin and Ethereum closed up 9.3% and 7.0% respectively to become the week's largest winners. Crude oil plunged 8.0% and coffee dropped 7.5%, the largest losses for the week. Palladium rose 4.9% to a new 18 year high.

National currencies were all lower, led by the Japanese Yen, which slumped 1.7%. The Chinese Yuan fell least, giving up just 0.1%. The US Dollar closed off 0.3%. Bonds fared much worse than cash, as the short term SHY declined 1.8% and the long term TLT fell 2.2%.

Cryptocurrencies held onto their gains from the end of last week and continued to build on them. Bitcoin and Ethereum both worked their way higher, closing up 9.3% and 7.0% respectively. Some smaller cryptos did even better; for instance, DASH (not in table) rose 26.4%.

Equities were all lower, but gold stocks fell the most, dropping 4.7%. The Dow Industrials fell the least, giving up 1.1%. The S&P 500 declined 2.6%.

Commodities were a wild mix. Crude oil and coffee had the largest declines of any assets this week, falling 8.0% and 7.5% respectively. But on the plus side, palladium rose 4.9% and cotton gained 1.3%. Palladium's price is now higher that it has been since 23-Jan-2002. Silver, "the other monetary metal", declined 3.3%, and copper retreated 0.8%.

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National currencies and stock markets were lower this week; cryptocurrencies, bonds, and commodities were mixed. Ethereum and palladium reversed course to become the week's largest winners, gaining 2.9% each. Platinum earned honorable mention, rising 2.8%. The table's largest losses were in coffee and copper which fell 5.6% and 2.5% respectively, but the UK FTSE index (not in table) dropped 2.8%.

The largest loss in a national currency was in the British Pound Sterling (not in table) which declined 2.6%. The US Dollar and the Euro tied for second place, falling 2.4% each. The Japanese Yen outperformed, giving up just 1.0%. Bonds did much better than cash, as the short term SHY declined 0.9% and the long term TLT added 0.3%.

Bitcoin rose over the weekend, reaching a high of 152.7 grams on Sunday, then declined to a low of 143.4 on Thursday, but recovered to close at 149.6 grams, off 0.3%. The sudden recovery on Friday seems to be linked to the US drone strikes in Iraq; it is reported that Bitcoin traded as high as $29,000 USD on Iranian exchanges that day (I don't know what gold traded for in Iran at that time, so I can't give a proper gold price for BTC.) Ethereum followed a similar pattern but finished up 2.9%. Some smaller cryptos did even better; DASH (not in table) ended the week up 9.3%.

As previously mentioned, the UK FTSE index (not in table) led declines among the equities, falling 2.8%. The Euro STOXX FEZ came in second, dropping 1.5%. The Japanese Nikkei shows a loss of just 0.4%, but had a very short trading period ending on Dec 30th. Gold stocks also outperformed, giving up 0.7%.

Precious metals did well this week, as palladium climbed 2.9% and platinum gained 2.8%. Silver and crude oil vied for third place, adding 1.1% each. The worst losses were in coffee, down 5.6%, and copper, off 2.5%.

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Most assets were lower this week; the only exceptions were gold stocks, up 5.9%, and silver, up 2.4%. The largest losses were in palladium and Ethereum which fell 3.6% each. Long term treasury bonds fell 2.4%, making them the next worst performing asset in the table.

National currencies all fell, led by the Japanese Yen, which declined 2.3%. The Canadian Dollar and Euro tied for the best performer spot, falling 1.5% each. The US Dollar dropped 2.2%; short term treasuries did slightly better, giving up 2.1%, and long term treasuries did slightly worse, falling 2.4%.

Cryptocurrencies also declined. Ethereum rose to 2.78 grams on Dec-22, but then started falling, ending the week off 3.6%. Bitcoin declined 1.2% following a similar trajectory.

Gold stocks were the week's biggest winner, surging 5.9%, but all other major indexes were lower. The Nikkei fell the most, dropping 2.2%. The Dow Industrials closed down 1.5%.

Silver gained 2.4%, but all other commodities closed lower. Palladium was the weakest, falling 3.6%. Copper was down 1.3% and platinum was off 1.1%.

Wishing you all the best, hoping that 2020 will be a very happy and successful year: a strong start to an excellent decade! Thanks for being part of the Priced in Gold family!

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Equities and commodities were mixed but weighted to the downside; all other asset groups moved lower. The largest gains were in cotton, which rose 0.9%, and the S&P 500, which added 0.8%. The worst performers were Ethereum, which fell 11.7%, and gold stocks, which dropped 3.6%.

All major currencies fell; the largest drop was in the British pound (not in table) which declined 3.0%, followed by the Euro, which closed 1.3% lower. The smallest declines were in the Canadian and US Dollars, which were off 0.6% and 0.8% respectively. Short term bonds tracked USD cash, pulling back 0.8%, but long dated treasuries fell 1.7%.

Ethereum fell to a low of 2.58 grams on Tuesday, then recovered to end the week at 2.71 grams, down 11.7%. Bitcoin followed a similar but milder path, closing on Tuesday at 140.0 grams, but working higher to finish the week at 151.8 grams, down 1.5%.

Gold stocks fell 3.6% this week, the largest loss aside from Ethereum. US markets were the lone equity gainers, as the S&P 500 rose 0.8% and the Dow Industrials added 0.3%.

Among the commodities, only cotton and copper moved higher, rising 0.9% and 0.1% respectively. Palladium was weakest, falling 2.9%. Silver was off 0.3%.

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National currencies, bonds, and commodities were mixed, while stocks moved higher and cryptocurrencies continued to drop. The largest gains were in palladium, which rose 4.8%, and coffee, which extended its climb by adding another 4.4%. Bitcoin was the worst performer of the week, falling 4.1%.

The Chinese Yuan and the British Pound Sterling (not in table) each gained 1.3%, the week's best showing among the national currencies. The Japanese Yen was weakest, declining 1.0%. The US Dollar fell 0.5%, but its bonds did a bit better, with the short term SHY dropping 0.4% and the long term TLT rising 0.3%.

Bitcoin started the week strong, rising to a high of 161.2 on Dec 8th, then worked lower for the remainder of the week, ending at 154.2 grams, down 4.1%. Ethereum followed a similar pattern, closing the week 3.3% lower.

Although the Dow Jones Industrial Average was unchanged, all other indexes were higher, led by the HUI gold stocks, which rose 3.4%. The UK FTSE index (not in table) rose 2.9% while the Japanese Nikkei closed up 1.8%.

The only falling commodity was silver, which declined 0.5%. Palladium and coffee were the strongest performers among the commodities and overall, rising 4.8% and 4.4% respectively. Platinum tied with gold stocks for third place, gaining 3.4%.

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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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Cryptocurrencies declined again, bonds and commodities moved higher, and national currencies and equities were mixed. The largest gains were in coffee and palladium, which rose 9.1% and 2.5% respectively. The largest losses were in Ethereum, which fell 16.6%, and Bitcoin, which dropped 13.9%.

National currencies were little changed this week. The Chinese Yuan and Canadian Dollar fell 0.3%, but the British Pound and Swiss Franc (not in table) dropped 0.4% and 0.5% respectively. The US Dollar and Japanese Yen each gained 0.2%. The Euro was unchanged. Short term bonds tracked the US Dollar, rising 0.2%, but long term bonds continued to outperform, adding 1.7%.

Cryptocurrencies were hammered again by new rumors of a Chinese crackdown on exchanges. Ethereum fell 16.6% to 3.19 grams, its lowest level since March. Bitcoin was also hurt, falling 13.9%. Some smaller coins were hit even harder; for instance, DASH (not in table) dropped 18.4% to 1.18 grams, a level not seen since March of 2017.

Major stock markets were slightly lower, but gold stocks closed up 0.5%. The Japanese Nikkei declined 0.6%, while the Dow Industrials and S&P 500 were off 0.3% and 0.2% respectively.

The largest gains were all in commodities, headlined by coffee, which soared 9.1%. Precious metals also did well, as palladium rose 2.5% and platinum gained 2.2%. Silver was a winner too, rising 2.0%.

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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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National currencies moved higher, but all other asset classes were mixed. The largest gains were in coffee and crude oil, which rose 8.4% and 5.0% respectively. The largest losses were in silver, which fell 4.4%, and gold stocks, which declined 3.7%.

The Chinese Yuan (up 3.8%) was the strongest national currency, followed by the US Dollar, which gained 3.0%. The Euro was weakest, adding 1.7%. Short term bonds tracked USD cash, rising 3.0%, but long term bonds fell 0.9%.

The moves in cryptocurrencies were relatively mild. Bitcoin declined 2.0%, and Ethereum rose 3.2%.

Major stock indexes all advanced, except for the HUI gold stocks, which retreated 3.7%, the second largest drop of any asset in the table. The Japanese Nikkei and the Dow Jones Industrials were the equity winners, gaining 4.5% and 4.3% respectively.

Silver plunged 4.4%, the week's largest loss. Platinum also retreated, falling 2.1%. But the week's number one and two gains were also in commodities, as coffee surged 8.4% and crude oil climbed 5.0% to close at 1.22 grams per barrel.

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