National currencies, bonds, and major stock indexes declined, while cryptocurrencies advanced and commodities were mixed. The largest gains were in the CCi30 crypto index, up 10.1%, Bitcoin, up 3.8%, and coffee, up 3.4%. The worst losses were in the Euro and the Nikkei 225 index, down 5.7% each, followed by the Euro STOXX 50 index, down 5.5%.
The US Dollar outperformed all other major currencies with the exception of the Canadian Dollar. The Loonie fell 3.9%, while the USD dropped 4.6%. Short term notes traded in line with USD cash, but long term bonds did slightly better, dropping 4.2%.
Gold stocks were the only equities in the green, rising 3.2%. The Dow Jones Industrial Average outperformed other major indexes, falling 2.7% this week, despite making a new all-time high when priced in dollars; priced in gold, the Dow is 63.3% below its all-time high set back in August of 1999.
Bitcoin remained above the 1kg mark this week, closing at 1,142 grams. This is just 1.1% below its all-time high. Platinum, on the other hand, closed the week down 2.5% to a new all-time low of 11.1 grams per ounce.
Happy Thanksgiving to all our US readers, and a grateful "Thank You" to all our readers, everywhere in the world!
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