October 29, 2024 at 07:19PM
Gold hit a fresh record at $2775 earlier today in a series of record highs this year.
Bitcoin may finally be joining the party as it tests the March high of $73,803. The high so far is less than $300 from that level, though it should provide tough resistance.
Bitcoin is up more than 5% on the day as headlines about ETF inflows continue to drive the trend.
In the bigger picture, new highs in both speak to election uncertainty and a desire to avoid the long arm of the US dollar. For bitcoin, the rally may also signal positive risk appetite and/or bets on a bitcoin-friendly Republican administration.
This article was written by Adam Button at www.forexlive.com.