Trader Considers $4 Million Payday as Gold Price Surges Past $5,000
Gold surpassed $5,000 per ounce amid US Dollar decline, prompting a trader to move $4.17 million into tokenized gold (XAUT).Summary
The price of gold has surged past the $5,000 per ounce mark, reaching an intra-day high of $5,009, which is attributed to mounting investor concern over the declining US Dollar Index (DXY). This rally contrasts with the performance of major cryptocurrencies like Bitcoin and Ethereum. Coinciding with this milestone, a trader on the Bybit exchange moved $4.17 million by withdrawing 843 XAUT (tokenized gold) after depositing 7 million USDT, signaling interest in gold as a hedge against fiat volatility. Analysts suggest sustained dollar weakness and commodity pressures, such as looming copper shortages highlighted by Robert Friedland, could drive gold prices further, with forecasts ranging from $5,400 to $6,500 by summer 2026.
(Source：BeInCrypto)