Dow futures rally as bitcoin surges to $1,200

Dow futures rallied as bitcoin surged to a new high of $1.2024.

It was the biggest one-day gain since July 20, when it jumped 6.3 per cent to $2.25.

“The price of bitcoin continued to rally, so that was a positive sign,” said Andrew Zymansky, senior economist at Bloomberg Intelligence.

“This may indicate the bulls are still bullish on the market.”

The S&P 500 is down 2.1 per cent, while the Nasdaq Composite is up 1 per cent.

The Nasdaq’s market value is $8.5 trillion.

The SBC, the Dow’s index, is up 2.5 per cent after posting its biggest gain since April 1.

The U.S. dollar is up 0.3 cents at 89.82 cents US, its strongest level since May 12.

The euro has risen to $0.8965 from $0,900.

The Canadian dollar has risen 0.2 cents to 99.85 cents CAD.

The yen has weakened to 104.19 yen JPY from 107.89 yen JPZ.

The dollar index is up 4.3% so far this year.

The gold spot price is up $1 per ounce, or 2.3%, at $1,-0.24.

The greenback has gained 5.2% in 2017 so far.

In the last 12 months, gold’s annual average gain has been just 0.7%.

Gold’s biggest gain in five years was $13.50 an ounce in November 2016.

The next big gains could come soon, said Jim Cramer, chief investment officer at Cramer Investments.

“Gold is going to rise quite a bit, I think it’s already risen a lot.

If it continues to rise, I believe it will go from $1 to $3 an ounce within two years,” he said.

“It’s a bit like gold in the early 2000s, it was just a lot of speculation about what the price would be.”