Spot gold surpassed $3,000 an ounce for the first time before retreating to $2,990. Gold futures for April delivery also broke the $3,000 mark on Thursday.
The precious metal is now up over 15% this year, driven by strong ETF inflows, geopolitical uncertainty, and continued concerns over U.S. equities amid ongoing tariff discussions by former President Donald Trump.
Gold breaks $3,000 an ounce (TradingView)
Meanwhile, gold priced in British pounds has yet to reach its all-time high of £2,363, currently sitting around £300 below that level.
Charlie Morris, founder of ByTree and manager of the BOLD ETF, which includes both bitcoin and gold, has observed a divergence between gold and bitcoin ETFs and expects this trend to reverse soon.
“In the last 30 days, gold ETFs have seen $10 billion in inflows, while bitcoin ETFs have experienced $5 billion in outflows,” Morris noted. “Sooner or later, the flows will reverse again—just as they always do.”
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