TradingKey – Gold briefly surged past $3,600, setting a new all-time high and outperforming Bitcoin by a wide margin.
On Monday (September 8), spot gold (XAUUSD) consolidated at elevated levels, currently trading at $3,585 per ounce. Last Friday, buoyed by multiple positive developments, gold prices rallied past $3,600, marking another historic high.
Gold Price Chart, Source: TradingView
Last Friday, the U.S. Department of Labor released disappointing non-farm payroll data: only 22,000 jobs were added in August, far below the expected 75,000. This reinforced expectations of Federal Reserve rate cuts. Additionally, President Trump announced a tariff exemption on gold, further boosting its price.
Over the past month, gold has been on an upward trajectory, gaining 6% — far outpacing Bitcoin (BTC), which has declined nearly 6%. As of this writing, Bitcoin hovers around $110,000, currently quoted at $110,899.
Gold vs. Bitcoin Monthly Performance, Source: CoinMarketCap
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