Gold prices hit an all-time high Monday as President Donald Trump’s tariff threat sent risk-on markets lower, driving demand for the safe haven asset.
What happened: Spot gold rose to $2,956 per ounce early morning before dipping to $2,937.67 as of this writing. Gold futures on the Commodity Exchange also climbed to an intraday high of 2,970.39 before settling at $2.952.
The yellow metal has gained 12.3% year-to-date and roughly 44% over the last 12 months.
Gold’s rise contrasted with that of Bitcoin (CRYPTO: BTC), often dubbed the “digital gold” by its advocates, as the apex cryptocurrency slid 4.48% in the last 24 hours. Blue-chip stock indexes like the Nasdaq Composite and the S&P 500 also closed Monday’s trading session in the red.
Meanwhile, Pax Gold (CRYPTO: PAXG), a cryptocurrency backed by physical gold, was among the market’s biggest gainers in the last 24 hours.
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Why It Matters: Peter Schiff, a renowned gold bug and Bitcoin critic, highlighted how SPDR Gold Trust ETF (NYSE:GLD), the world’s largest gold exchange-traded fund, has risen 12.42% year-to-date, while Bitcoin-tied ETFs have struggled.
“Instead of 2025 beginning a golden age for Bitcoin, it looks like it will just be a golden age,” Schiff threw a jibe.
While Bitcoin has certainly struggled this year, it has surpassed gold in terms of annual returns, rising more than 76% vs. the bullion metal’s 44% returns.
On a larger time frame, the gulf becomes wider. Bitcoin has gained a whopping 35,807% in the last 10 years, compared to 142% return on gold investment.
Price Action: At the time of writing, Bitcoin was exchanging hands at $$90,562.19, down 4.48% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, it has lost 3.03% of its value.
Image Via Shutterstock
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