Weekly Update 29 Oct 2021 ETH at All-Time High

Reversing colors again, this week is mostly in the green. Ethereum made the largest gains, rising 13.7% to a new all-time high of 77.6 grams. Cotton also did very well, adding 8.4%. The weakest assets were platinum, down 2.9%, and gold stocks, off 2.1%.

The only declining national currency was the Chinese Yuan, down 0.3%. The US Dollar showed the most strength, gaining 2.2%. Short term notes followed suit, also gaining 2.2%, while long term bonds outperformed, rising 4.7%.

Cryptos were very strong, especially Ethereum, which rose 13.7% to a new all-time high of 77.6 grams. The broader crypto market followed; the CCI30 index added 6.4% and Bitcoin advanced 4.8% to just shy of 1.1 kg, hovering about 5% below its all-time high.

Stocks had a deceptively good week, with the DJIA and S&P 500 making new all-time highs in US Dollar terms. Priced in gold, only the HUI gold stocks were in the red, falling 2.1%, and the S&P 500 rose 3.6% to a 15 year high… but that's still 53% below its all-time high of 173.1 grams set in July of 1999. The DJIA gained 2.6% to close at 629.7 grams, but failed to surpass its August high of 636.5 grams, and sits 55% below its 1999 all-time high of 1,393.2 grams.

The commodity sector was mixed, with cotton rising 8.4% and platinum falling 2.9%. Copper declined 0.7% while silver gained 0.9%. Coffee rose 4.3% and crude oil finished 2.0% higher.

Year over year, only four assets are in the red: gold stocks, down 14.6%, palladium, down 5.5%, the Japanese Yen, off 2.9%, and long term treasury bonds, off 0.6%. The biggest winners are, of course, cryptos. Ether beat all other assets, climbing 1,100.6% to a new all-time high, and the broader 30 crypto index gained 502.3%. Outside of cryptos, the best gains are in crude oil, up 144.3%, and coffee, up 106.1%. The best performing stock index is the Euro STOXX, which gained 49.8%.

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