Gold hits record high over $5K, further diverging from Bitcoin
Gold reached a record over $5,000 amid trade tensions while Bitcoin fell to $86,000, marking a sharp divergence as the precious metal surged 17% in January.
Gold prices have topped $5,000 amid rising geopolitical and global trade tensions, while Bitcoin has fallen toward $86,000 as the divergence between the two assets widened.
Gold surged to a record high of $5,080 on Monday following a 17% gain so far this year, according to Gold Price, with traders flocking to the precious metal amid fears of a potential US government shutdown and uncertainty over the Trump administration’s escalated tariff threats.
“A likely government shutdown just added fuel to the fire for precious metals,” the Kobeissi Letter said on Monday.