How Gold Outshone Bitcoin In October

When investing in alternative assets gold remains the king.

The yellow metal performed far better than the world's best-known cryptocurrency, Bitcoin, during October's market volatility.

When investors buy alternative assets, they typically look for two things.


First, they want to know how the asset will perform as a safe-haven asset during times of market volatility.

It should be clear that over the last month we have seen plenty of market volatility. Stocks have made some wild intra-day swings, starting the day substantially up and then ending lower than the previous close.

In addition, the S&P 500 index, which gets tracked by the SPDR S&P 500 exchange-traded fund, lost more than 8%, so far in October.

While stocks fell, gold prices gained. Prices for the yellow metal started the month at $1,189 a troy ounce and were recently trading at $1,220, according to data from Bloomberg.

Meanwhile, Bitcoin, which has been much heralded as a new alternative asset, lost value. The price of one Bitcoin started the month fetching $6,573 and was recently trading for $6,271. That's a drop of more than 4% so far in October.

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Small Cap Stock Digest



Name Last Change
DOW 26559.50 0.40%
S&P 500 2905.03 0.16%
NASDAQ 7998.06 0.02%
TSX 16612.81 0.41%
TSX-V 609.21 0.00%

Resource Commodities

Name Last Change
Gold 1274.26 0.00
Silver 14.91 0.67%
Copper 2.93 2.927
Platinum 901.00 0.67%
Oil 64.00 0.38%
Natural Gas 2.49 1.08%
Uranium 25.88 0.12%
Zinc 1.27 0