Crypto market prices today exhibit dampened spirits with Gold price and Silver price reaching new all-time highs, coupled with heavy weekly outflows from cryptocurrencies.
This move suggested a clear indication of investor’s resorting to traditional safe-haven assets, which could have resulted from this week’s catastrophic liquidation across crypto markets.
The move also came ahead of the Federal Reserve’s release of its Beige Book, a key report offering fresh insight into the health of the U.S. economy.
Gold Price & Silver Price Reach New All Time High, XAU at $4,20
In the spot market, gold price peaked at $4,215 per troy ounce, while silver climbed to a record $53.59 per ounce.
The month’s performance remained striking with gold up 12% and silver soaring 21% over the past four weeks.
This year alone, gold price has soared by 60%, marking one of its strongest rallies in decades.
According to Investopedia, the surge reflected a decisive move by investors towa
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