“Tipping the Scales: Gold and Bitcoin Blast Through US$2,000 and US$35,000 Respectively!

It’s safe to say that 2020 has been a roller coaster ride for financial markets, and a look at the latest movement of assets shows just some of the remarkable changes we are seeing. Just recently, gold and Bitcoin made headlines as they both smashed through some key psychological levels as investors become increasingly attracted to safe havens. Gold Breaks US$2000 Earlier this week, gold broke the US$2000 mark for the first time in history. This is an astonishing feat and one that is pushing investors to seek more reassurance in this traditional safe-haven asset in the uncertain global market climate. Since the start of 2020, gold has already gained around 25%, and some are forecasting that it will rise even more before the end of the year. This bullish attainment is being driven by many of the same forces that saw US equities rocket over the course of the past few months, with macro-economic uncertainty, inflation, and loose monetary policy all contributing to the current gold price. Bitcoin Moves Past US$35,000 Not to be outdone, Bitcoin also made news this week as it surpassed the US$35,000 milestone. The leading cryptocurrency, often described as digital gold, has had an astonishing 2020 and has gained around 300% since the beginning of the year. From its all-time high of around US$20,000 in 2017, it has experienced a massive surge during the past few months. This has been partially driven by a surge of institutional investors entering the market but has largely been fueled by retail investors enticed by the cryptocurrency’s huge gains. It seems like gold and Bitcoin are now leading the charge amongst many of the world’s major markets when it comes to asset price performance in 2020. With more uncertain times ahead for global markets, we can expect to see these two assets heading even higher as investors seek out safe-havens to protect themselves against volatile times.