The price of gold reached $ 2,000 in 18 months; Bitcoin and digital currencies continue to decline



Hours ago, the price of gold on world markets again reached over $ 2,000 after a long time. Gold is now very close to its historical record, while the situation in the market for bitcoin and other digital currencies continues to decline.

According to Crypto Potito, despite numerous negotiations, the war between Russia and Ukraine continues in 12 days. The turmoil caused gold, the oldest value-saving tool in history, to rise sharply for the first time in months, reaching more than $ 2,000 an ounce.

Russian President Vladimir Putin announced on February 24th that his country would conduct a “special military operation” in Ukraine, which Western countries say is a complete war.

Russia’s move has led to a decline in global stock markets and digital currencies, and these assets have lost much of their value. However, prices largely recovered in the following days; But now it seems that this temporary leap is coming to an end.

In any case, in the midst of all this, the price of gold has risen and given more confidence to this safe haven of capital. At the time of writing, gold is trading at just under $ 2,000, but a few hours ago, 18 months later, it reached its highest price, around $ 2002. The last time gold was traded at this rate was in August 2020.

The price of gold reached $ 2,000 in 18 months;  Bitcoin and digital currencies continue to decline
Graph of the price of gold in dollars.

The collapse of bitcoin and the global stock market

While the price of gold has skyrocketed, risky assets are not having a good time. Bitcoin has fallen about 13.5 percent in the last six days and is trading at about $ 38,700 at the time of writing. In other words, we return to the level at which bitcoins traded before the price improved at the beginning of the war, and it remains to be seen how prices will continue to fluctuate.

The price of gold reached $ 2,000 in 18 months;  Bitcoin and digital currencies continue to decline
Bitcoin price chart; 1 day view of the bitcoin / dollar market.

Stock markets are also in a very bad state. The Dow Jones futures index fell 1% in the hours before the market began trading on Monday, as did the S & P500 and Nasdaq.

However, we will have to wait and see how the markets perform during the trading hours in the United States after the opening of Wall Street.

The publication The price of gold reached $ 2000 after 18 months; Bitcoin and digital currencies continue to decline, the first of the digital currency appeared.

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