CandleFocus Donald Trump’s focus on Bitcoin could threaten gold’s future
2024-11-19
Author: Content Editor
The article discusses the recent performance of gold and Bitcoin following the US presidential election. Gold has experienced a decline, reaching a one-month low, while Bitcoin has thrived, reaching an all-time high. The author suggests that there may be a shift in investor preference from gold to Bitcoin, driven by factors such as taxes, tariffs, and crypto. The hawkish stance of the Federal Reserve and the potential strengthening of the US dollar are also seen as factors that could negatively impact the attractiveness of gold. Additionally, a Republican US Senator proposed selling some of the Fed's gold to accumulate Bitcoin as a national reserve.
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