可可、比特幣和以太坊 11 月漲幅超過 35%

可可、比特幣和以太幣 11 月漲幅超過 35%，阿拉比卡咖啡期貨上漲近 30%，達到 1977 年以來的最高價格。

Commodities were a mixed bag in November, with some posting strong gains and others moving lower. Among the best performers were cocoa, coffee, Bitcoin, and Ethereum, which all posted over 35% gains. Cocoa was the standout performer, rising by over 36% to reach its highest level since 2024. Coffee futures also soared, rising by nearly 30% to reach their highest price since 1977. Bitcoin and Ethereum both rallied in the wake of the U.S. election, with Bitcoin coming within striking distance of the $100,000 level before pulling back.

11 月大宗商品漲跌互現，有些商品大幅上漲，有些則走低。表現最好的是可可、咖啡、比特幣和以太坊，漲幅均超過 35%。可可表現最為突出，上漲超過 36%，達到 2024 年以來的最高水平。幣在回調之前已經接近10 萬美元水準。

On the other hand, some commodities posted losses in November. Among the worst performers were palladium, which fell by over 10%, and crude oil, which declined by nearly 2%. Palladium was weighed down by a lack of buying interest and concerns about slowing industrial demand. Crude oil prices fell as OPEC+ decided to keep output steady, despite pressure from the U.S. to increase production and lower prices.

另一方面，11 月份部分商品出現虧損。表現最差的是鈀金，下跌超過10%，原油下跌近2%。缺乏購買興趣以及對工業需求放緩的擔憂拖累了鈀金。儘管美國施加增加產量和降低價格的壓力，但由於 OPEC+ 決定保持產量穩定，原油價格下跌。

Overall, the price action in commodities was varied in November, with some commodities posting strong gains and others moving lower. The upcoming OPEC+ meeting and the actions of the new U.S. administration will be key factors to watch in December and 2025.

整體而言，11 月大宗商品價格走勢各異，有些大宗商品大幅上漲，有些則走低。即將舉行的 OPEC+ 會議和美國新政府的行動將成為 12 月和 2025 年值得關注的關鍵因素。