ANDIKA BULLETin 19 OCT 2024

Bullion & Bitcoin Soar As 'Trump Trade' Dominates Data This Week

ANDIKA BULLETin 19 OCT 2024

So another low quality rally kept US stocks propped into the weekendwith Small Caps leading the week strongly while Nasdaq ended unchanged.

US banks the big winners while Energy stocks lagged while Tech was unchanged.

Gold ripped to over USD $2,736 for a new record high!

Source: Bloomberg

Silver next? Silver rallied for the fifth week in the last six, breaking above USD$33 to close at its highest since Dec 2012

(Buy ASX listed ETF - ETPMAG for spot Silver exposure)

Source: Bloomberg

The US dollar continued its charge higher this week, back to near July highs while the AUD ($0.6706) is at 6 week lows.

Bitcoin also ripped to its highest 'close' since June, nearing USD$69,000 this morning.

Ethereum on the other hand continues to lag its big brother in crypto, erasing almost all of the DeFi boom out performance.

Source: Bloomberg

Finally, all the prediction markets are bid for a Trump/Republican victory in November (but the 'polls' still favour Harris).

and of course, the MSM cry foul... somehow believing that this is 'manipulated' (as a reminder, in a market, there are buyers and sellers... why not 'manipulate' that 'market' back your way if you don't agree with the price?)

But then again, I'm probably the last person to claim that stocks are not rigged also...

Have a good weekend

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