Cryptocurrency

Gold

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/goldman-sachs-projects-gold-surge-and-expands-cryptocurrency-ventures/" data-wpel-link="internal">Goldman Sachs Projects Gold Surge and Expands Cryptocurrency Ventures</a> 
The <a href="https://en.coin-turk.com/market-participants-react-to-bitcoin-price-fluctuations/" data-wpel-link="internal">cryptocurrency</a> king lingers above $91,000, while gold has surpassed $2,600 once again. Following Trump’s election victory, fluctuating prices may continue to exhibit high volatility at least until the first quarter of next year. What triggered the surge in gold prices? What recent developments from Goldman Sachs impact <a href="https://en.coin-turk.com/bitcoin-price-analysis-will-btc-rally-continue-after-high-employment-data/" data-wpel-link="internal">cryptocurrencies</a>? 
<h2 style="text-align: justify" id="why-is-gold-rising">Why is Gold Rising?</h2> 
Gold prices have rebounded above $2,600 as Treasury yields and the U.S. Dollar reach recent highs. Goldman Sachs announced today that gold prices could reach $3,000 by the end of next year. 
Recent reports indicate that Biden has allowed the use of long-range missiles in Ukraine, reigniting war psychology. As this article was being prepared, Russia stated that “everyone will receive a concrete answer in this scenario.” 
The Kobeissi Letter remarked on the rising gold prices amid the war agenda: 
<blockquote> 
 “Historically, gold has traded inversely with the U.S. Dollar and Treasury yields. A stronger U.S. Dollar makes gold more expensive for foreign investors, reducing demand. Higher Treasury yields increase the opportunity cost of holding gold. However, something changed in September. 
 Despite the U.S. Dollar Index rising steadily, gold prices remain resilient. Since the Fed began lowering rates, the 10-year Treasury yield has increased by about 90 basis points. Nevertheless, dips in gold prices are being bought, and historic highs continue. Why is this happening? 
 The initial explanation is that gold markets are pricing in the RETURN OF INFLATION. We have previously explained why leading indicators show inflation is rising again. In fact, the annualized 1-month PCE inflation is trending toward 4%.” 
</blockquote> 
<h2 style="text-align: justify" id="bitcoin-and-cryptocurrencies">Bitcoin and Cryptocurrencies</h2> 
Additionally, another potential trade war between China and the United States is on the horizon. Trump had openly promised this already. The sharp decline in oil prices is a consequence of renewed tensions in China-U.S. relations, which may result in further tariffs. 
As experts anticipate greater fluctuations in exchange rates, questions arise about what the Trump era might bring. Negative trends may emerge in cryptocurrencies due to global economic tensions, a resurgence of inflation, and other adversities. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-407802 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-18_20-00-07.png" alt="" width="1814" height="836"> 
As Goldman Sachs sets a $3,000 target for gold, it simultaneously takes a contrary step to widespread views. Normally, global economic challenges should negatively impact cryptocurrencies. However, Goldman talks about transforming its <a href="https://en.coin-turk.com/us-unemployment-claims-data-released-impact-on-cryptocurrency-markets/" data-wpel-link="internal">crypto</a> business into a separate entity, indicating expectations for further growth in the crypto sector. 
The post <a href="https://en.coin-turk.com/goldman-sachs-projects-gold-surge-and-expands-cryptocurrency-ventures/" data-wpel-link="internal">Goldman Sachs Projects Gold Surge and Expands Cryptocurrency Ventures</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Goldman Sachs Projects Gold Surge and Expands Cryptocurrency Ventures

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