DeutschThe calm was deceptive. While the US stock markets remained closed on Monday (September 1) due to a public holiday, the markets also went to sleep. But no sooner had night fallen than the great trembling began. Gold cracked the $3,500 per ounce mark, Bitcoin simultaneously shot above $110,000 – a double signal that makes investors sit up and take notice.
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Both investments are traditionally considered safe havens when the world situation is uncertain. The fact that they are now rising in unison is no coincidence, but an expression of a mixture of weak economic data, interest rate speculation and geopolitical nervousness. Anyone who looks closely will see that there is more behind the price jumps than just short-term market sentiment.
Bitcoin and Gold on the Rise – What’s behind it?
The next figures will take center stage as early as Friday – the much-watched employment data from the USA. After significant revisions in previous months, the credibility of government statistics is under pressure. Instead of the originally reported 140,000 new jobs in May and June, only 15,000 remained retroactively. A shock for investors who rely on reliable data.
Accordingly, the tension is now high before the August figures. Just 50,000 new jobs are expected – a figure that would underpin the weakness in the labor market. US Federal Reserve Chairman Jerome Powell had already hinted at the central bankers’ meeting in Jackson Hole that a significant cooling of the job market could pave the way for interest rate cuts. A clear signal to the markets: The monetary policy floodgates could soon be opened.
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But it is not only economic data that is moving the markets. Global politics is also boosting gold and Bitcoin. The Ukraine war is still unresolved, despite earlier promises from US President Donald Trump to bring it to an end. Instead, old and new power blocs are positioning themselves.
BTC and Gold Move between Hope and Fear
At the summit of the Shanghai Cooperation Organization in China, Russia, India and China demonstrated unity – a clear contrast to the West. Even more explosive: Russian President Vladimir Putin and Chinese President Xi Jinping met on Tuesday for a personal exchange, accompanied by high-ranking ministers from both sides. The message: Cooperation instead of confrontation – but not with Washington. For investors, another reason to seek refuge in crisis-resistant investments.
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While gold is storming to new record highs, Bitcoin almost seems like the digital twin of the precious metal. Sometimes the cryptocurrency runs parallel to tech stocks, sometimes in unison with gold. Now the crisis mode is back: away from risk, towards hedging. But the movement remains fragile. Because whether the high-altitude flight continues depends on several factors: the US labor market data on Friday, the signals from the Fed – and the question of whether geopolitical conflicts will continue to escalate. One thing is certain: Gold and Bitcoin are at the center of a financial market that moves between hope and fear. (mck)
