According to The Kobeissi Letter, gold has extended its 2-day gain by over $160, surging to $3,400 per ounce as of May 6, 2025 (source: The Kobeissi Letter on Twitter). This sharp rally signals a shift in global risk sentiment, often leading traders to reallocate capital toward safe-haven assets, which has historically influenced flows into both gold and digital assets like Bitcoin. Traders should monitor correlations between gold and cryptocurrencies, as rising gold prices may hint at increased institutional demand for alternative stores of value, possibly impacting crypto volatility and liquidity in the near term (source: The Kobeissi Letter).
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Gold Surges $160 in 2 Days to Hit $3,400/oz: Key Trading Signals and Crypto Market Implications – Blockchain News
