The price of gold again reached an all-time high, exceeding $2,736 per ounce, after rising around 38% this year.
The precious metal is continuing the massive surge and is breaking high after high, marking the strongest performance since the turn of the century.
This upward momentum could be attributed to the rate-cut optimism. The metal has also been supported by robust purchases by central banks (espcially China), as well as haven demand, amid ongoing conflicts in Ukraine and the Middle East.
In the meantime, Bitcoin is also experiencing a significant price boost, currently trading at $68,175. This represents a 8.2% increase on the weekly chart and pushed the cryptocurrency’s market cap to around $1.347 trillion.
Bitcoin is around $3,000 shy from a new all-time high and many experts anticipate a new record in the coming months, if not the coming weeks.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.