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Commodity/Cryptocurrency: Gold and Bitcoin are nearing record highs

06/03/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex Raw materials

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Gold and Bitcoin were flirting with their record highs on Tuesday. Gold is taking advantage of the prospects of rate cuts from the Federal Reserve, and cryptocurrency is rising before an event in April that will reduce its available supply

.

Around 11:35 GMT (12:35 CET), the ounce of gold rose by 0.54% to 2,126.10 dollars. Gold was close to its all-time high at the beginning of December, when it reached 2,135.39 dollars per ounce. According to Christophe Giraudon, analyst at Comptoir de l'Or, “the publication of gloomy economic figures in the United States”, which presage a fall in real interest rates, as well as the “current geopolitical tensions” explain this

recent surge in gold.

Cryptocurrency remained in an “expansion phase” propelled by the arrival on the American market in January of a new investment product that is following its course: by allowing “institutional investors to access bitcoin for the first time”, demand exploded according to James Harte, of Tickmill.

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