Key Takeaways
- Gold fell by 2.6% on profit-taking, dipping to $3,260 after a new record high.
- However, gold is still up 30% in 2025, and the gold-to-silver ratio is at its highest since 1994.
- Bitcoin and stock markets decreased as investors aimed to digest the latest political news before making decisions.
Markets show signs of fatigue after a whirlwind week that saw gold shatter records and Bitcoin briefly climb the asset rankings leaderboard.
Traders are now reassessing the rally amid shifting political signals, cooling investor sentiment, and renewed questions about what’s next for risk and safe-haven assets.
With both precious metals and crypto flashing caution lights—and equities losing momentum—the mood is turning from euphoria to evaluation.
Gold Retraces After Setting New Record-High
Gold prices have recently pulled back from their all-time high, near $3,500 per ounce , due to profit-taking as investor concerns eased. This decline pushed prices to a support level of $3,260 before rebounding to around $3,311 on Thursday.
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Despite the dip, the overall trend remains bullish, with no confirmed breakout unless prices fall to $3,169. So far in 2025, gold has risen over 30%, and the gold-to-silver ratio has reached its highest level since 1994, excluding the pandemic.
The recent decline, including a 2.6% drop, followed comments from President Trump easing tensions with China and the Fed. Trump suggested tariffs on Chinese goods would be reduced, not eliminated, and backed away from removing Fed Chair Powell.
These moves reduced safe-haven demand and triggered further selling.
Technically, gold remains bullish, with resistance at $3,375 and $3,420. While MACD is in overbought, RSI suggests more room for gains. Support at $3,169 remains critical, but the buying strategy stays in place unless it is breached.
Bitcoin Slips Below $92,500
It definitely wouldn’t move towards Bitcoin if money went away from gold. The BTC price fell by 1.2% to $92,400 on Thursday after surging by nearly 7% past $94,000 on Wednesday—its highest level since early March—as investors took profits at a seven-week peak.
The rally followed signs of easing U.S.-China trade tensions, with President Trump softening his stance on Fed Chair Powell and tariffs.
Yesterday, Bitcoin briefly overtook Alphabet to become the 5th-largest asset by market cap at $1.87 trillion, trailing only gold, Apple, Microsoft, and Nvidia. However, after the dip, Bitcoin slipped back to 8th.
George Pavel, General Manager at Naga.com, told CCN, “Institutional demand has also reaccelerated, evidenced by a record net inflow of 11,898 BTC into U.S. spot Bitcoin ETFs, marking the highest single-day inflow since November last year, and exceeding the 2025 daily average.”
ETF recorded three consecutive days of large inflows exceeding $2 billion. According to Pavel, this substantial increase reflects renewed institutional confidence and may indicate the beginning of a broader reallocation into digital assets.
“Despite short-term volatility, the structural backdrop for Bitcoin remains supportive,” he added.
Furthermore, altcoins also fell, as Ethereum dipped by 0.8% to $1,774.93, XRP decreased by 2.8% to $2.1801, Solana was down by 1.3%, Cardano lost 1.0%, Polygon dipped by 0.5%, and Dogecoin dropped by 4.0%.
Stocks Show Timid Performance
European stocks edged lower on Thursday afternoon as a relief rally lost steam. The Stoxx 600 dipped by 0.1%, Germany’s DAX down by 0.3%, and all major bourses were red.
Wall Street futures also turned negative after two days of gains—Dow futures fell by 250 points, while S&P 500 and Nasdaq futures were down by 11 and 2 points, respectively.
Futures had briefly turned positive before reversing course. On Wednesday, the Dow closed 400 points higher after dropping 800 points from session highs.
“Markets paused for breath after the recent rally as investors were treated to a barrage of corporate news to get their heads around,” Russ Mould, investment director at AJ Bell, told CCN.
“As always, the outlook statement was more important to investors than the backward-looking numbers. Comments about tariffs from business leaders are omnipresent, and investors want to know how companies plan to deal with potential cost pressures,” He added.
