Bitcoin Surges, Exceeding $93,000 and Setting New Records

U.S. Stock Market Update – November 13:

On November 13, U.S. stock indices posted slight gains:

• The S&P 500 edged up 0.02% to 5,985.38 points.

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• The Dow Jones rose 0.11% to 43,958.19 points.

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• The Nasdaq Composite advanced 0.26% to 19,230.74 points.

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Key Economic Updates:

• The October Consumer Price Index (CPI) in the U.S. increased 2.6% year-over-year, matching analysts’ expectations. Core CPI also rose 3.3%, aligning with forecasts.

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Bitcoin’s Stunning Rally:

Bitcoin continued its shocking ascent, surpassing $93,000 last night and setting a new all-time high. El Salvador, known for its bold Bitcoin investments, reportedly earned a profit of $565 million, translating to a nearly 100% return on investment.

Political Developments:

U.S. President-elect Donald Trump has appointed Elon Musk as the Secretary of the Department of Government Efficiency.

Other Market Updates:

• USD Index (DXY): The U.S. dollar climbed to a 7-month high, reaching 106.58.

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• 10-year Treasury Yields: Increased to 4.478% on the morning of November 14.

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Gold Market:

Gold prices continued to decline:

• Spot Gold fell 0.7% to $2,580.39/ounce, hitting its lowest level in nearly two months earlier in the session.

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• Gold Futures dropped 0.8% to $2,586.50/ounce.

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Commodity Markets:

• Brent Crude Oil: Gained 0.5%, closing at $72.28/barrel.

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• WTI Crude Oil: Increased 0.46% to $68.43/barrel.

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Metals Market:

Under pressure from a stronger USD, metals extended losses:

• Silver (Dec 2024): Declined 0.3% to $30.663/troy ounce.

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• Platinum (Jan 2025): Dropped 0.5% to $943.5/troy ounce.

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• Copper (Dec 2024): Fell sharply by 1.3% to $4.083/pound.

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Source: SFVN (Compiled)