Market Update 19 Oct 2012 – Cotton, Nikkei up, Silver down


All of the government currencies were strong again this week, led by the EUR, which rose 3.4%. Bitcoin (BTC) declined slightly, giving up 0.7% for the week to finish at 210.6 mg.

Bonds were mixed.  SHY moved up 1.6% (in line with the USD, as usual) but TLT was off 0.1% to 2.18 g. 

Equities were all on the plus side of the ledger, led by the Nikkei 225, which rose a whopping 6.0% to close at 2.04 g. This more than made up for last week's drop, but still leaves the Nikkei index about 15% below its 2009 lows.  The S&P 500, by contrast, rose 2% to close about 14% above its 2009 lows.

Commodities showed the largest gains and losses this week, with cotton rising 9.6% and silver falling 2.7%.  In cotton's case, this is coming off a recent all-time low, but is enough to turn the commodity's price action positive for the last month.  Silver closed at 0.579 g/oz, close to the 0.6 level that has been its home for the last year.  Copper was unchanged, crude oil was off 0.3%, while coffee rose 1.7% leaving it 2.4% above its recent all-time low.

Cotton priced in gold

Silver priced in gold

Table of prices in gold for week ending 10/19/2012

Filed under monetary universe by  #

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