TradingKey – Gold continues its record-breaking rally, while Bitcoin struggles to gain traction, highlighting its limited safe-haven appeal.
On Wednesday, October 15, spot gold (XAUUSD) extended its upward momentum, approaching the $4,200 mark. By midday, gold hit a new all-time high of $4,192 per ounce, driven by intensifying risk aversion and macro uncertainty.
Spot Gold Price Chart – Source: TradingView.
In contrast, Bitcoin (BTC) showed little reaction to dovish signals from Fed Chair Jerome Powell, who hinted at a potential rate cut early Wednesday morning. BTC hovered around $110,000, and at press time, was trading at $112,542.
Over the past month:
Gold has gained 4%, fueled by safe-haven demand
Bitcoin has declined more than 8%, underscoring its current role as a speculative asset rather than a defensive one
Gold vs. Bitcoin Monthly Performance – Source: CoinMarketCap.
This divergence reinforces the notion that Bitcoin’s positioning as “digital gold” remains aspirational. While it excels in transactional utility and decentralized finance, its adoption as a reserve asset by sovereign entities is still limited — constraining its ability to compete with traditional hedges like gold during periods of macro stress.
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