Gold Outshined Bitcoin This Month Climbing 6% Higher Amid US Real Estate Slump, Lower CPI Data

This month, 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. The U.S. 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).

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.

Leave a Reply

Your email address will not be published. Required fields are marked *