Good Reads
Bitcoin’s 90-day correlation with gold hits nine-year high
BTC’s 90-day price correlation with gold has reached +0.56, its highest level since most data providers started measuring it in January 2017 and higher than its prior record of +0.5 in November 2020. Meanwhile, the 90-day correlation of BTC with the Nasdaq 100 index slid to roughly +0.30 over the same window, a one-year low. Read on »
Look beyond rates to gold’s long-term support
Gold has come under renewed pressure over the past two weeks amid rising US Treasury yields, hawkish comments from Federal Reserve Chair Kevin Warsh, and stronger-than-expected US payroll data. Following a 15% gain in the first three weeks of August, gold prices have since fallen 5.5%. Read on »
Copper price surges to all-time high as tariff turmoil rocks market
The metal’s 17% advance over the past year has been underpinned by a long-term mismatch in supply and demand. The world’s ageing fleet of big mines is struggling to keep pace with usage from data centers, renewable energy and power grids — a backdrop trumpeted by copper bulls for years. Read on »
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