Gold and Bitcoin Weakened in October as the Dollar's Safe-Haven Status Rebounded

November 3 — Bloomberg columnist Jonathan Levin wrote that in October the dollar performed best among safe-haven assets, while gold and Bitcoin weakened over the same period. The article noted that geopolitical and political risks remain: France is experiencing unrest due to its deteriorating fiscal situation, major political changes may occur in the United States and Israel, the Iran war continues, attacks on oil tankers in the Strait of Hormuz are increasing, and the Houthis have launched attacks on Saudi Arabia. The author believes that the "dollar debasement trade" previously championed by Bridgewater founder Ray Dalio and Citadel founder Ken Griffin may be over. The logic of this trade was that investors would sell the dollar and shift to alternative assets such as gold and Bitcoin.