Guld overstrålede Bitcoin denne måned klatring 6% Højere midt i amerikansk ejendomsnedgang, Lavere CPI-data

Denne måned, gold has outperformed bitcoin after crypto markets shuddered from the recent FTX collapse, and the precious yellow metal climbed 6.12% since the first of November. USA. housing market has shown weaknesses and October’s U.S. inflation rate was lower than expected. Analysts believe these economic trends contributed to pushing gold’s price up by 3.81% against the greenback on Nov. 10, 2022, after the U.S. Bureau of Labor Statistics published October’s consumer price index (CPI).

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So Far Gold’s Market Performance in November Has Outpaced Bitcoin’s

Bitcoin has seen better days as the leading crypto asset is down more than 18% lower than it was during the first of November. A great deal of the crypto asset’s USD losses can be contributed to the FTX collapse and the chaotic aftermath that followed.

An ounce of gold, on the other hand, has risen 6.12% higher than it was trading for on Nov. 1, 2022. On that day, a troy ounce of .999 fine gold’s spot value was 1,647.50 nominal U.S. dollars. I dag, the value of an ounce of .999 fine gold is roughly $1,748.49 pr. enhed.

Analysts, gold bugs, and economists are attributing some of gold’s success during the past two weeks to the decline in U.S. real estate sales. The National Association of Realtors (NAR) rapporteret on Friday that “existing-home sales slumped 5.9% in October.”

“Existing-home sales faded for the ninth month in a row to a seasonally adjusted annual rate of 4.43 million. Sales fell 5.9% from September and 28.4% from one year ago,” the NAR report details. The NAR study further attributes the falling home prices to the Fed’s aggressive rate hikes that have increased the 30-year lending rate a great deal this year.

Most of gold’s rise started on Nov. 1, 2022, and it jumped even higher after the U.S. Bureau of Labor Statistics offentliggjort October’s consumer price index (CPI). The lower inflation rate pushed the price of gold up 3.81% mod U.S.A. dollar between Nov. 10 through Nov. 13, 2022.

The report also helped bitcoin (BTC) to some degree, as the FTX collapse effect on crypto markets may have been worse if the inflation rate was higher. BTC’s one-hour candle after the CPI report published jumped a great deal higher.

Gold Outshined Bitcoin This Month Climbing 6% Higher Amid US Real Estate Slump, Lower CPI Data
An ounce of .999 fine gold was trading for $1,647 per ounce on Nov. 1, 2022, and today it’s up 6% higher than it was on that date.

Den nov. 10, gold’s price per ounce was coasting along at $1,706 per unit and by Nov. 13, 2022, it was trading for $1,771 an ounce. Frank Cholly, the RJO Futures senior market strategist, fortalte Kitco News that gold may have run up too fast and the precious metal is simply taking a breather.

“Gold got close to $1,800. And now the market is seeing some profit taking. It does appear to be rolling over. I am not ready to get bearish yet. We are taking a breather,” Cholly explained on Friday. Imidlertid, there is a point where Cholly could get bearish as the RJO Futures senior market strategist remarked:

If gold closes under $1,750, I’d start to get bearish — At $1,725, things turn sour for gold.

Much like bitcoin proponents betting on the Bitcoin halving event to bolster BTC’s prices, gold bugs think the price of gold will be much higher over the next eight years. Traders at primexbt.com believe gold will reach $4,721 per ounce by 2024 and by 2030 the traders predict gold will reach $8,732 per ounce.

Tags i denne historie
1 ounce of gold, Bitcoin, Bitcoin (BTC), Bitcoin pris, BTC pris, CPI, CPI rapport, Frank Cholly, FTX kollaps, guld, gold price, Gold Prices, inflation, Kitco, NAR, National Association of Realtors, Ounce of Gold, Prices of Gold, primexbt.com, primexbt.com traders, Ejendom, RJO Futures, troy ounce of .999 fine gold, US Housing, Inflation i USA, US Real estate

What do you think about gold’s market performance so far this month? af den digitale valutaøkonomi med.

Jamie Redman

Jamie Redman er nyhedschef hos Bitcoin-Tidings.com News og en finansteknologisk journalist, der bor i Florida. Redman har været et aktivt medlem af cryptocurrency-fællesskabet siden 2011. Han har en passion for Bitcoin, åben kildekode, og decentrale applikationer. Siden september 2015, Redman har skrevet mere end 6,000 artikler til Bitcoin-Tidings.com Nyheder om de forstyrrende protokoller, der dukker op i dag.




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