Gold has fallen by more than 20% from its January record high of $5,600 per ounce and is now trading below its 200-day moving average (200DMA). This has happened for the first time since October 2023.
Since reaching their January peaks, the combined market value of gold and silver has shrunk by $1 trillion: on June 5, gold traded at around $4,331 per ounce, while silver traded at around $67.30, even though active geopolitical conflict and above-target inflation traditionally support higher precious metals prices.
A “self-reinforcing cycle” of capital outflows is forming in the crypto market, according to analysts at Santiment. Investors are increasingly favoring equities, which have recently outperformed both gold and Bitcoin.
Gold continues to fall rapidly. The XAU price dropped toward $4,410 after breaking a descending pattern on May 15, while the market is moving closer to the support zone near $4,376, which analysts consider critically important for the medium-term trend.
Bitcoin’s uptrend against gold, which had lasted for the past three months, was interrupted as investors began to prefer the precious metal as a store of value.
Coinbase has expanded its derivatives lineup by adding perpetual futures contracts for gold and silver for eligible traders outside the United States, giving such users the ability to invest in precious metals through cryptocurrency-based market infrastructure.
Tether, the issuer of the world’s largest stablecoin, purchased about 6 metric tons of gold for its reserves in the first quarter, down from 27 tons in the October–December period, according to a quarterly report published on Friday.
Cryptocurrency adoption in the United States rebounded in March after several months of decline, but retail investors still prefer gold and stocks over digital assets, according to a new survey by Deutsche Bank.
Cryptocurrency exchange Binance summarized the first 90 days of its TradFi derivatives operations. Daily trading volume for gold peaked at $7.6 billion, while silver reached $6.4 billion. Initial turnover in metals was $1.5 million — the figure increased 5,000 times over the quarter, according to the company’s report.
On Thursday, Wall Street mostly closed lower as President Donald Trump's national address, in which he promised to deliver an "extremely strong blow" to Iran, dashed the brief optimism from Wednesday and led to a sharp rise in oil prices. Oil reached $111 per barrel, as Trump's speech disrupted the rally tied to de-escalation of the conflict on April 1.being a critical support level, and breaking it could trigger a chain reaction of liquidations.
Tether has launched Tether Gold (XAU₮) on BNB Chain, allowing users to hold digital tokens backed by real gold. This move comes after gold prices rose by 64% in 2025—the largest increase in 40 years. Each token represents one troy ounce of gold stored in Swiss vaults and verified through independent audits.
Bitcoin is proving more resilient than traditional safe-haven assets, as gold and silver face pressure from fund outflows, position reductions, and deteriorating liquidity, according to Wall Street investment bank JPMorgan.
Bitcoin ETFs have attracted around $2.5 billion in inflows, offsetting earlier 2026 outflows and nearing a full year-to-date recovery. Meanwhile, gold ETFs are experiencing capital outflows, reflecting a shift in investor preferences. Analysts note that Bitcoin and gold are not directly inverse assets, but BTC is showing stronger investor confidence despite a roughly 40% price decline.
Amid escalating tensions between the United States and Iran, global markets are experiencing one of the most volatile periods in recent years. Sharp movements in Bitcoin and historic losses in gold have led experts to question whether the concept of “safe haven” assets has changed.
The cryptocurrency market continues to fall, led by Bitcoin. This decline is linked to geopolitical tensions surrounding U.S. President Donald Trump and Iran.
Bitcoin ($BTC) has gone through a 14-month bear market relative to gold and is ready for growth. This was indicated by several indicators that showed a classic reversal signal.
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