Gold Continues to Surge, Hitting a New Record – Bitcoin Just Below All-Time High
19.10.2024 21:35 1 min. read Alexander Stefanov
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.
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