Gold Logs Sixth Straight Gain, Clears $3,500 to Hit New Record

TradingKey – Gold prices continued higher today, climbing more than 0.5% to extend their record run.

On Tuesday, September 2, during Asian trading hours, spot gold (XAUUSD) rose for a sixth consecutive session, breaking above the $3,500 level. Today, spot gold gained 0.53%, peaking at $3,508 per ounce — its highest price on record.

Spot Gold Price Chart – Source: TradingView

Meanwhile, Bitcoin (BTC), often called “digital gold,” has shown weakness lately. Its market capitalization has dropped to $2.17 trillion, ranking eighth globally and now trailing silver (XAGUSD), which stands at $2.35 trillion.

Bitcoin remains range-bound above $100,000, suggesting that level is acting as firm support. On Friday, the U.S. will release its nonfarm payrolls report — an important data point likely to influence the Federal Reserve’s rate decision in September and a key factor for Bitcoin’s next move.

Bitcoin Price Chart – Source: TradingView