Spot Gold went over an ounce of $3,000 for the first time before retreating to $2,990. Gold futures for delivery in April also broke the $3,000 mark on Thursday.
Precious Metal has risen more than 15% this year, sparked by strong ETF influx, geopolitical uncertainty and continued concerns about US stocks amid continuing tariff debate by former President Donald Trump.
Meanwhile, gold, priced in the British pound, has yet to reach an all-time high of £2,363 and is now sitting at around £300 above that level.
Charlie Morris, manager of Bytree and The Bold ETFs, which include both Bitcoin and Gold, has observed differences between Gold and Bitcoin ETFs and hopes that this trend will soon reverse.
“In the last 30 days, gold ETFs have seen $10 billion inflows, while Bitcoin ETFs have experienced $5 billion inflows,” Morris said. “Sometimes or later, the flow will turn back again, just like they always are.”
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