Bitcoin (BTC) has long been described as “digital gold”, and, like the precious metal, is often pitched as a hedge against inflation. But new data from NYDIG suggests that the narrative doesn’t hold up. In its weekly digest, NYDIG’s Global Head of Research Greg Cipolaro found that inflation isn’t a reliable factor driving bitcoin’s price. Monthly correlation data shows that bitcoin’s relationship to inflation is both inconsistent and weak. “We know the community likes to pitch bitcoin as an inflation hed ...

Gold prices tumbled in their biggest daily drop in years as a stunning rally in precious metals came to a halt. Futures for the yellow metal (GC=F) dropped as much as 5% to hover near $4,141 per troy ounce, on pace for their largest drop since August 2020. Meanwhile, spot gold declined more than 6%, seeing its biggest one-day decline in 12 years, according to Bloomberg data. Silver futures (SI=F) also tumbled as much as 7% in their largest drop in more than four years. The move came amid easing trade te ...

Gold futures (GC=F) tumbled as much as 5% on Tuesday, marking its steepest one-day drop since August 2020, as its stunning rally came to a halt. Bullion futures hovered near $4,141 per troy ounce, down from Monday’s intraday record north of $4,380, while silver futures (SI=F) also tumbled as much as 7%, in their biggest one day drop since 2021. The move came amid easing trade tensions between Washington and Beijing, a rise in the US dollar, and technical indicators flashing overbought conditions. “Gold ...

Gold prices tumbled 5% on Tuesday to mark their biggest daily drop in more than a decade as a stunning rally in precious metals came to a halt. Futures for the yellow metal (GC=F) hovered near $4,141 per troy ounce, while spot gold declined to as low as $4,082, in its biggest one day drop in 12 years, according to Bloomberg data. Meanwhile silver futures (SI=F) also declined as much as 7%, their biggest decline since 2021. The move came amid easing trade tensions between Washington and Beijing, a rise i ...

Gold prices tumbled in their biggest daily drop in years as a stunning rally in precious metals came to a halt. Futures for the yellow metal (GC=F) dropped as much as 5% to hover near $4,141 per troy ounce, on pace for their largest drop since August 2020. Meanwhile spot gold declined more than 6%, seeing its biggest one day decline in 12 years, according to Bloomberg data. Silver futures (SI=F) also tumbled as much as 7% in their largest drop in more than four years. The move came amid easing trade ten ...

Core Viewpoint - A productivity-driven increase in real interest rates is identified as the most powerful driver for a currency [1] Group 1 - The relationship between productivity and real interest rates is emphasized as a significant factor influencing currency strength [1]