Weekly Update 1 Nov 2019
Stocks, bonds, and cryptocurrencies were higher, while national currencies and commodities were mixed. The largest gains were in Bitcoin and coffee, which rose 7.3% and 4.9% respectively. Gold stocks were another standout, rising 2.6%. The largest losses were in cotton, which declined 0.7%. The US Dollar gained 0.3%.
National currencies were mixed, but mostly higher this week. The largest gains were in the British Pound and Swiss Franc (not in table) which rose 1.2% and 1.1% respectively. The largest currency gain in the table was the Euro, up 1.0%. The largest loss was in the Canadian Dollar, off 0.3%. Bonds moved higher, as USD cash and short term SHY added 0.3% each while the long term TLT rose 1.8%.
Cryptocurrencies had a good week, as Bitcoin rose to a high of 197.2 grams on Tuesday before pulling back to close at 190.9 grams, up 7.3%. Other cryptos also did well, but few could keep pace with Bitcoin. Ethereum, for instance, gained 1.7%
Gold stocks led the other equities, rising 2.6%, but all the major indexes had a good week. The Dow Industrials and S&P 500 rose 1.8% each. The Nikkei 225 lagged the field, adding 0.9%.
Commodities had the largest declines for the week, but even they weren't too bad. Cotton fell 0.7%, and crude oil and copper declined 0.5% each. On the upside, coffee gained 4.9% and palladium rose 1.6%. Silver was up 0.3%.
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