Spot gold reached over $3,000 an ounce for the first time before falling back to $2,990. Gold futures for April delivery also crossed the $3,000 mark on Thursday.
This precious metal has surged over 15% this year, driven by strong ETF inflows, geopolitical uncertainty, and ongoing concerns over U.S. equities amid tariff discussions by former President Donald Trump.
Meanwhile, gold priced in British pounds has not yet reached its all-time high of £2,363, currently hovering around £300 below that level.
Charlie Morris, founder of ByTree and manager of the BOLD ETF, which includes both bitcoin and gold, has noticed a discrepancy between gold and bitcoin ETFs and anticipates this trend will reverse soon.
“In the last 30 days, gold ETFs have received $10 billion in inflows, while bitcoin ETFs have seen $5 billion in outflows,” Morris pointed out. “Sooner or later, the flows will reverse again—just as they always do.”
