Gold Has Hit a New All-Time High Price Per Ounce

Gold has hit a new record-high price per ounce on April 21st, signaling that investors all across the world are getting ready for shaky economic times.

Investors are largely preparing for shaky economic times, pushing gold to hit a new record-high price per ounce on April 21st.

Today, gold (XAU) hit its all-time high price per ounce at $3,430. The precious metal has been on a tear as of late, consistently breaking new price records seemingly every other day.

The safe haven asset has been rolling up in a powerful rally since December 19, 2024. Since then, gold has seen an incredible 32% increase in value—which for gold standards is quite a lot.

But to put things in perspective, gold markets have been bullish since November 2024.

The yellow metal hit new all-time highs on five out of the last ten days, signaling increased interest and demand for the asset as economic uncertainty continues to loom over financial markets—which increases the likelihood we see new ATHs over the next few weeks.

Unlike Bitcoin, which was hit by pressure from recession fears related to Donald Trump’s tariffs, gold continued to gain traction as investors are seeking the precious metal to protect their funds from economic instability.

Bitcoin Surpasses Gold In 2024 Rally

Whereas Bitcoin was beating the precious metal with his end-of-the-year rally in 2024, the story began to change after February of this year, when uncertainty related to the U.S. economy led investors and even nations to stockpile gold.

In the below chart provided by LongTermTrends, which covers how many ounces of gold are needed to buy 1 BTC, we can see how BTC started to fade after January, effectively becoming bearish on March 1st.

Currently, $BTC trades at $87,162 at a 2.55% increase over the last 24 hours. As of today, Bitcoin is seen trading around 20% down from its $109,632 all-time high of January 20th.

While many consider Bitcoin to have the ability to become the ‘go-to’ store of value for scarcity and value retention, the fact of the matter is that investors are not yet ready to take that risk. Due to the risk of a recession growing larger by the day, global demand for gold from investors, institutions, and nations has grown exponentially over the past months.

With that being said, institutional adoption of Bitcoin has been largely on the rise, with companies like Strategy and Metaplanet leading the way towards BTC reserves. Moreover, governments all around the world are now at least pondering creating strategic Bitcoin reserves—which could mean a “shift” in Bitcoin’s ability to become a hedge against inflation.

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News data source: kdj.com

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