Gold

Bitcoin

<h2 id="quick-take">Quick Take</h2> 
In the current economic climate characterized by the worst inflation over four decades and skyrocketing US government debt exceeding $33 trillion, attention gravitates toward hard assets such as Gold, Silver, and Bitcoin. 
<figure id="attachment_376798" aria-describedby="caption-attachment-376798" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-376798 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/us-debt.png" alt="US Debt Clock: (Source: usdebtclock.org)" width="1764" height="403" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/us-debt.png 1764w, https://cryptoslate.com/wp-content/uploads/2023/11/us-debt-300x69.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/us-debt-1024x234.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/us-debt-768x175.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/us-debt-1536x351.png 1536w" sizes="(max-width: 1764px) 100vw, 1764px">
 <figcaption id="caption-attachment-376798" class="wp-caption-text">
 US Debt Clock: (Source: usdebtclock.org)
 </figcaption>
</figure> 
With rate cuts anticipated in 2024 and the DXY recording its second-worst month since 2021, the DXY is under an enhanced spotlight. 
<figure id="attachment_376807" aria-describedby="caption-attachment-376807" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-376807 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/cm.png" alt="CME FedWatch: (Source: cmegroup.com)" width="568" height="260" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/cm.png 568w, https://cryptoslate.com/wp-content/uploads/2023/11/cm-300x137.png 300w" sizes="(max-width: 568px) 100vw, 568px">
 <figcaption id="caption-attachment-376807" class="wp-caption-text">
 CME FedWatch: (Source: cmegroup.com)
 </figcaption>
</figure> 
Gold is not only holding firmly above $2,000 but is also striving for all-time highs, a phenomenon accompanied by an unusual trend of rising alongside US yields, a pattern unseen since the 70s and 80s. 
<figure id="attachment_376797" aria-describedby="caption-attachment-376797" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-376797 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/xauusd.png" alt="Gold vs US10Y: (Source: Trading View)" width="1410" height="883" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/xauusd.png 1410w, https://cryptoslate.com/wp-content/uploads/2023/11/xauusd-300x188.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/xauusd-1024x641.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/xauusd-768x481.png 768w" sizes="(max-width: 1410px) 100vw, 1410px">
 <figcaption id="caption-attachment-376797" class="wp-caption-text">
 Gold vs US10Y: (Source: Trading View)
 </figcaption>
</figure> 
Bitcoin, often called ‘digital gold,’ is likewise experiencing substantial growth, up 120% year-to-date. Such patterns suggest a potential shift toward alternative asset classes in the face of prolonged economic uncertainty. 
The post <a href="https://cryptoslate.com/insights/gold-and-bitcoin-rally-as-traditional-economic-indicators-falter/">Gold and Bitcoin rally as traditional economic indicators falter</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Gold and Bitcoin rally as traditional economic indicators falter

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