PANews reported on October 9th that according to Bloomberg, asset management firm Eurizon SLJ Capital Limited stated that growing market resistance to major reserve currencies like the US dollar is driving gold and Bitcoin prices to record highs, and the upward trend is expected to continue. Earlier this week, gold broke through $4,000 per ounce for the first time, and Bitcoin also hit a new high. Eurizon strategists pointed out that the two gains are driven by "common factors." Central banks are "printing money frenzy" and investors are turning to alternative assets. Strategists believe that if reserve institutions continue to sell fiat currencies, gold prices may continue to rise, and if gold reserves reach parity with the US dollar, the price of gold may reach $8,500. Eurizon predicts that the US dollar will continue to decline after a brief respite. The previous gains were due to the weakening of the euro and yen due to domestic political and fiscal risks, rather than the increasing appeal of the US dollar itself.PANews reported on October 9th that according to Bloomberg, asset management firm Eurizon SLJ Capital Limited stated that growing market resistance to major reserve currencies like the US dollar is driving gold and Bitcoin prices to record highs, and the upward trend is expected to continue. Earlier this week, gold broke through $4,000 per ounce for the first time, and Bitcoin also hit a new high. Eurizon strategists pointed out that the two gains are driven by "common factors." Central banks are "printing money frenzy" and investors are turning to alternative assets. Strategists believe that if reserve institutions continue to sell fiat currencies, gold prices may continue to rise, and if gold reserves reach parity with the US dollar, the price of gold may reach $8,500. Eurizon predicts that the US dollar will continue to decline after a brief respite. The previous gains were due to the weakening of the euro and yen due to domestic political and fiscal risks, rather than the increasing appeal of the US dollar itself.
Institution: Distrust of the US dollar is driving gold and Bitcoin up
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PANews reported on October 9th that according to Bloomberg, asset management firm Eurizon SLJ Capital Limited stated that growing market resistance to major reserve currencies like the US dollar is driving gold and Bitcoin prices to record highs, and the upward trend is expected to continue. Earlier this week, gold broke through $4,000 per ounce for the first time, and Bitcoin also hit a new high. Eurizon strategists pointed out that the two gains are driven by "common factors." Central banks are "printing money frenzy" and investors are turning to alternative assets. Strategists believe that if reserve institutions continue to sell fiat currencies, gold prices may continue to rise, and if gold reserves reach parity with the US dollar, the price of gold may reach $8,500. Eurizon predicts that the US dollar will continue to decline after a brief respite. The previous gains were due to the weakening of the euro and yen due to domestic political and fiscal risks, rather than the increasing appeal of the US dollar itself.
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