A rush to safety? The price of gold hit a new all-time high yesterday, while assets considered risky are tending to decline. We take a closer look at the surge in the yellow metal and what it says about the current macroeconomic circumstances.
Gold price hits new all-time high
The price of gold surpassed a new all-time high last night, crossing the $3,508 per ounce threshold for the first time. The yellow metal rose 4.6% over the week before reaching its ATH:
In contrast, the price of Bitcoin (BTC), sometimes referred to as “digital gold,” has tended to fall. The cryptocurrency lost 4.6% on Thursday and has been trading in a range between $107,000 and $110,000 since then. Over the week, BTC has stagnated at 0.01%.
Macroeconomic uncertainties in the United States
The trigger for this gold rush appears to have been the inflation data released last week in the United States. Worse than expected, it triggered a series of sell-offs in risky assets, including Bitcoin.
It should also be noted that last Friday, a federal appeals court ruled that the tariffs imposed by the US on the rest of the world were largely illegal. This contributed to the feeling of uncertainty.
It should also be noted that investors are awaiting several key data releases in the United States: this week, we will see the employment figures.
All eyes are also on the Federal Reserve: the US central bank could cut interest rates in September. Such a decision would certainly trigger an upturn in the markets, but it is not certain at this stage.
Gold remains one of the best-performing assets of 2025
In turn, gold, considered the ultimate safe-haven asset, saw its price climb to a record high last night.
Gold remains one of the most profitable assets in a year that has been rich in geopolitical twists and turns. Since January, it has gained 34%. By comparison, BTC has gained 19% over the same period.
