Precious Metals Outperform Bitcoin in Year-to-Date Gains
- Gold’s price surged by 44% to a record $3,784.
- Silver gained 53%, reaching $44.32 per troy ounce.
- Platinum saw a 60% increase, now priced at $1,452.
- Palladium rose by 33%, currently valued at $1,207.
- Bitcoin increased just over 20%, now priced at approximately $113,000.
- Global central banks hold around 36,000 metric tons of gold.
The performance of precious metals as safe havens has been bolstered by central bank diversification into gold amid economic uncertainties and geopolitical tensions. Bitcoin’s limited adoption as a reserve asset and ongoing liquidations from older wallets have restricted its growth compared to these metals.
In summary, while gold and other precious metals have shown remarkable gains this year, with gold up by 44%, Bitcoin’s rise of just over 20% highlights its struggle to compete as a safe haven asset.(Source)
