The global demand for gold has surpassed $100 billion in the third quarter, driven by investor fear of missing out (FOMO) and economic unrest. Gold prices have increased by 34% this year alone, reaching a record high of $2,788 per troy ounce. Meanwhile, Bitcoin has experienced a quiet climb towards another all-time high, with institutional investors and wealthy families driving the demand for both gold and Bitcoin. However, central banks have reduced their gold purchases due to high prices and the potential for interest rate cuts. While retail interest in Bitcoin remains low, there are indications that retail investors may start to become more interested as crypto prices rise. In contrast, Europe has seen more interest in Bitcoin as a hedge against declining fiat currencies. However, Bitcoin still has to prove its stability against gold.



Other News from Today