Gold and bitcoin have been rallying together all year but they’re headed in different directions today. Bitcoin jumped on the weekend and hit a record $82,500 today but gold is backing off, down $42 to a session low of $2641.
Some stops were hit in the past few minutes as it edged through last week’s low of $2643. Eyes are on the October low of $2603.
Gold daily
I would also highlight Trump’s pick of Treasury Secretary as notable for gold. John Paulson is in the running and the long-time gold bull would certainly help to lift precious metals sentiment.