NewsHK
Gold and bitcoin are moving in tandem as the U.S. government intervenes to suppress long-term bond yields, a dynamic market participants describe as the return of the debasement trade.
Since the start of the month, gold has surged more than 15% and bitcoin has jumped more than 25%.
These gains have pulled gold into positive territory for the year, with the metal now up around 8% after being down that same amount at its June low.
Bitcoin remains off about 10% for the year, a significant improvement from the 33% loss it carried at the end of June. The pressure on precious metals and crypto stems from rising long-term yields.
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