XAU/USD: Gold Eases Back Toward $3,000. Can Falling Crypto and Stocks Uphold New Leg Up?
1 min read
Key points:
- Gold rally may hinge on weak stocks
- And weak crypto — repurposed BTC flows
- Some analysts go as high as $4,000 per ounce
Bullion has enjoyed tremendous returns over the past year. With the crypto corner and stock market selling off, some bulls see more room to the upside.
📈 Gold’s Bullish Outlook
- Gold prices
XAUUSD eased up on the attitude a little bit on Friday and remained calm and collected Monday morning. The bullion shifted lower by 0.7% on Friday, ending the day at $3,023 per ounce and signing off on its second drop in a row. Previously, gold was blasting off for seven consecutive days and hit an all-time high of $3,060. - It’s Monday morning and that means one thing — time for markets to start spinning the wheels again and pump or dump their way into your portfolio. With gold, the former might be true, according to some market bulls.
👀 What Comes After $3,000?
- Continued selling pressure in the crypto space coupled with a bearish sentiment in stocks might catapult gold to new record highs, Bloomberg Intelligence analysts believe. What’s more, gold could even be on its way to $4,000 in 2026 if all that inflation heat, tariff drama and trade war jitters keep the dumpster fire going.
- “The key competitors for gold, at least for the past few years, have been the strong rise in US stocks, the rise in US bond yields, and the rise in digital gold — that is Bitcoin,” BI strategist Mick McGlone has said in an interview.
🏆 Gold Up Against the Mega Caps
- Let’s talk mega cap assets. Stocks have been a big headache for Trump supporters who were calling the second term America’s Golden Era. True, Trump’s winning of the White House pumped equities to record highs. But all that euphoria is in the rearview, all post-election gains are gone, and a broad sense of fear is proliferating across risk assets due to tariffs.
- In crypto, Bitcoin
BTCUSD is up about 23% from the November 5 election but is down more than 20% from its record high of $109,000 to float near $84,000 a pop. Can gold take advantage of the weaknesses elsewhere? You be the judge (and always DYOR).