Chris Weston, head of research at Pepperstone, said that one notable aspect of the current rise in gold is that while gold is rising, it is difficult for cryptocurrencies to generate similar upward momentum. This shows that this wave of gains was driven not only by widespread currency depreciation transactions, but by more special factors unique to the precious metals sector. It is also worth noting that despite the strengthening of the US dollar and the 5% increase in crude oil prices, gold continued to appreciate. Weston said that these traditional relationships have been temporarily broken, indicating that the flow of funds for specific assets is proving to be the main driver.

Chris Weston, head of research at Pepperstone, said that one notable aspect of the current rise in gold is that while gold is rising, it is difficult for cryptocurrencies to generate similar upward momentum. This shows that this wave of gains was driven not only by widespread currency depreciation transactions, but by more special factors unique to the precious metals sector. It is also worth noting that despite the strengthening of the US dollar and the 5% increase in crude oil prices, gold continued to appreciate. Weston said that these traditional relationships have been temporarily broken, indicating that the flow of funds for specific assets is proving to be the main driver.