Tough Week for Precious Metals Miners

Monday, stocks rose 0.8% in Asia, closed virtually unchanged in Europe, and fell 0.5% in the U.S. on low volume while precious metals miners lost 4%. Tuesday, stocks rose slightly in Asia, rose 0.9% in Europe, but fell 0.6% in the U.S. on light volume. Precious metals dropped 3% and their miners plummeted 10%.

Wednesday, stocks closed little changed in Asia, fell 0.5% in Europe, and gained 0.5% in the U.S. on light volume. The 10-Year U.S. Treasury Bond yield moved up 2% to close at 1.72. Thursday, stocks rose 0.3% in Asia, fell in Europe 0.4%, and closed little changed in the U.S. on low volume. Precious metals fell 1% and their miners continued their slide losing another 3%. The 10-Year U.S. Treasury Bond yield moved up 2% to close at 1.74. Friday, markets worldwide lost ground with Asia down  0.3%, Europe off 0.9%, and U.S. slipping 0.5% on light volume.

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