Gold Climbs Toward Record as Bitcoin Retreats
Bitcoin (BTC) attempted a rally on Thursday, briefly crossing $113,000, but steady afternoon selling pulled the asset back to around $111,800, a 0.7% daily loss. Ether (ETH) and XRP (XRP) fell more sharply, down 2.1% and 1.4%, while Solana’s SOL (SOL) outperformed with a 3.1% gain.
Gold extended its recent momentum, rising 0.8% to $3,477 per ounce, just below the $3,534 all-time high set earlier this month. The metal has gained nearly 4% in August, underscoring its safe-haven appeal, while bitcoin has dropped 5.2% over the same period.
Traders note that macro tailwinds—lower interest rates and a weakening dollar—have fueled gold’s strength but failed to ignite demand for bitcoin, often dubbed “digital gold.”
Attention now shifts to September, when the Federal Reserve is expected to resume rate cuts and President Trump may appoint one or two dovish members to the central bank, potentially shaping market direction through the final months of 2025.
