Gold Surpasses $4,380, Attracting Investor Attention Amid Market Instability
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Gold's New High: Gold prices have surpassed $4,380, nearing $4,500, setting a new record primarily due to widening U.S. budget deficits and increasing borrowing obligations, indicating a strong preference for tangible assets during uncertain times.
- Silver's Strong Performance: Silver has also crossed the $70 mark, with its percentage growth outpacing gold, reflecting robust demand for precious metals that may further drive market interest in both gold and silver.
- Contraction in Money Supply: The SOFR exceeding the Federal Reserve's reserve rate indicates a tightening of the money supply, which could lead to rising Treasury yields, intensifying concerns about national debt and currency stability, thereby enhancing gold's appeal.
- Bitcoin's Dim Outlook: Bitcoin remains below $100,000, with a potential drop below $80,000 accelerating selling pressure, and the Bitcoin-gold ratio's decline to 9-10 emphasizes a growing investor preference for gold over cryptocurrencies.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
