Spot gold briefly surpassed the $3,000 an ounce threshold for the first time, before dropping back to $2,990. April gold futures also exceeded the $3,000 level on Thursday.
The valuable metal has risen over 15% this year, fueled by significant inflows into ETFs, geopolitical tensions, and persisting worries regarding U.S. stock performance amidst ongoing tariff negotiations led by former President Donald Trump.
In other news, gold priced in British pounds has not yet achieved its peak of £2,363 and is currently around £300 short of that milestone.
Charlie Morris, the founder of ByTree and manager of the BOLD ETF—which incorporates both bitcoin and gold—has noted a disconnection between gold and bitcoin ETFs, predicting that this trend will reverse shortly.
“Over the past month, gold ETFs have seen inflows of $10 billion, while bitcoin ETFs have recorded outflows of $5 billion,” Morris remarked. “Eventually, these trends will turn around—just as they invariably do.”
Disclaimer: Portions of this article were generated with the help of AI tools, and our editorial team reviewed them to ensure accuracy and compliance with our standards. For further details, please see our full AI Policy.