Investors who invested in gold or bitcoin are faring very well this year. Gold topped $2,700 an ounce on November 22, 2024. For the week, gold recorded its best weekly increase since last October. Investors continue to seek safety for their cash.
Gold rose after the increased escalation between Russia and Ukraine. Stocks like Barrick Gold (GOLD) rallied in the week. It was up 9.4%, compared to a 5.99% rise in Newmont (NEM). Expect the metal to continue its rise as Russia uses new weapons in its attack on Ukraine’s Dnipro. If it increases NATO’s involvement in the war, gold prices will rise.
Bitcoin (BTC-USD) received plenty of attention as the price approached $100,000 in the last week. SEC Chair Gary Gensler’s plans to step down would decrease the regulatory overhang that delayed the rise in cryptocurrency prices.
Markets also view Trump’s presidency as beneficial for the crypto market overall. The community expects lower regulations and favorable rules to encourage an alternative to fiat currencies in the next four years.
Investors who held Coinbase (COIN) gained 45.6% in the last month. Microstrategy rose by 78.85% while Robinhood (HOOD) increased by 35%. Investors should also watch Marathon Holdings (MARA) and Riot Platforms (RIOT), whose stock price jumps whenever Bitcoin prices rise.
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