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.
Poland’s political landscape may be shifting in favor of crypto innovation following the election of Karol Nawrocki, a candidate who campaigned on promises to protect investor freedom and resist burdensome regulations.
Following a 6.4% pullback from its record high of $111,980, Bitcoin has stirred debate among analysts about what comes next.
Japanese investment firm Metaplanet has made another bold move in the crypto space, acquiring 1,088 more Bitcoins in its latest purchase, and pushing its total holdings to 8,888 BTC—valued at over $930 million at current prices.
As more corporations rush to add Bitcoin to their balance sheets in hopes of replicating the success of early adopters, concerns are growing that many of these firms may not have the resilience to endure a sustained crypto downturn.