The price of gold reached $ 2,000 after 18 months; Bitcoin and digital currencies continue to decline
Hours ago, the price of gold in world markets again reached above $ 2,000 after a long time. Gold is now very close to its historical record, while the situation in the market for bitcoin and other digital currencies continues to decline.
To Report Crypto Potito, despite numerous talks, the Russia-Ukraine war continues after 12 days. The turmoil has caused gold, the oldest value-saving instrument in history, to rise sharply for the first time in recent months, reaching more than $ 2,000 an ounce.
Russian President Vladimir Putin announced on February 24 that his country would launch a “special military operation” in Ukraine, which Western countries say is a full-blown war.
Russia’s move sent global stock markets and digital currencies plummeting, and these assets lost much of their value. However, prices largely recovered in the following days; But now it seems that this temporary leap is coming to an end.
In any case, in the midst of all this, the price of gold has risen and once again given more credibility to this safe haven of capital. At the time of writing, gold is trading at just under $ 2,000; But a few hours ago, after 18 months, it reached its highest price, around $ 2,002. Gold was last traded at this rate in August 2020.
Bitcoin collapse and the global stock market
While the price of gold has skyrocketed, risky assets are not having a good time. Bitcoin has fallen about 13.5 percent in the last six days and is trading at around $ 38,700 at the time of writing. In other words, we are back to the level where bitcoins were traded before the price improved at the start of the war, and it remains to be seen how prices will continue to fluctuate.
Stock markets are also in a very bad state. The Dow Jones Futures Index fell 1 percent in the hours before the market started trading on Monday, as did the S & P500 and Nasdaq.
However, we will have to wait and see how the markets perform during US trading hours after Wall Street opens.