Gold Ramps Higher

Monday, stocks rose 0.4% in Europe and slightly Asia and the U.S. on 10B shares traded. VIX fell 5% to end at 15.19. Precious metals gained 1% as gold hit a record high. IBM ended below 190.

Tuesday, stocks ended up 1.1% in Asia and down 0.6% in Europe but closed little changed in the U.S. on 11B shares traded. Precious metals gained 1% and their miners advanced twice that amount as gold pressed to new highs.

Wednesday, stocks gained 0.3% in Asia, advanced slightly in Europe, but dropped 1.2% in the U.S. on 12B shares traded. The VIX rose 5% to end at 15.80. The 10-Year U.S. Treasury bond yield rose 4% to end at 4.56. Precious metals fell 1% while gold continued to post record highs. The S&P 500 Index closed below 5200, and the NYSE ended below 18,000. The Consumer Price Index rose more than expected on the backs of high energy and housing costs.

Thursday, stocks declined 0.5% in Asia, 0.4% in Europe, slightly in the U.S. on 11B shares traded. The VIX fell 6% to close at 14.91.  Precious metals and their miners gained 2% as gold posted another record high. The NASDAQ recorded a record high close helped by  a strong showing of Apple which closed above its 170 benchmark.

Friday, stocks gained slightly in Europe but lost 0.8% in Asia 1.5% in the U.S. on 12B shares traded. The VIX shot up 16% to close at 17.31. The 10-Year U.S. Treasury bond yield fell 2% to end at 4.50. Precious metals fell 1% and their miners lost 2% as gold continued to post record highs. The Dow Jones Industrial average ended below the 38,000 benchmark. Finally, the Federal Reserve balance sheet declined 2B to 7.44T.