Gold Resumes Record Chase - Trade Dispute in Focus - Gold and Bitcoin Surge in Value Amid Geopolitical Tensions
Gold and Bitcoin have both surged in value this year, with gold reaching record highs and Bitcoin experiencing significant growth. Gold has risen by over 55 percent so far in 2022, currently trading at just under $4,078 per ounce. This is the highest annual increase since 1979. The precious metal has outperformed most other asset classes, including Bitcoin. Since early October 2022, gold has appreciated by more than 140 percent. Bitcoin, the world's largest cryptocurrency, has also seen remarkable growth. Since the end of 2024, the price of a Bitcoin has risen by about a quarter. Over the past three years, Bitcoin's price has increased by almost 500 percent. It reached a record high of over $126,000 but has since given up some ground, currently trading at just under $115,000. This is the seventh record high in the past eleven trading days. The rise in gold and Bitcoin prices comes amidst geopolitical tensions, including the hardened trade dispute between the USA and China. Despite some volatility, both assets continue to show strong performance, with gold leading the way in 2022.
