Gold Hits $4,270, Bitcoin Plunges Below $110,000: What’s Moving Markets Thursday?
In an otherwise cautious session on Wall Street, gold and silver stole the spotlight once again, with both precious metals pushing to fresh record highs — gold touching $4,270 per ounce and silver climbing to $53.90.
• GDX is reaching significant price levels. See what is driving the movement here.
Thursday’s 1.5% gain in gold positions it to close its 14th positive session out of the past 16, extending its year-to-date rally to 63%, putting it well on track for the best annual performance since 1979.
Gold miners are riding the wave higher. The VanEck Gold Miners ETF (NYSE:GDX) rose another 4% Thursday, after gaining 3.9% the day before. That brings the fund’s weekly gain to 12%, while its year-to-date return now sits at a staggering 150%, outperforming every other equity industry tracked on Wall Street.
By comparison, the Global X Artificial Intelligence & Technology ETF (NYSE:AIQ) — a popular vehicle for AI-focused names — is up just 30% year-to-date.
Fueling Thursday’s rally in precious metals were dovish comments from Federal Reserve Gov. Christopher Waller, who expressed support for another rate cut at the upcoming Federal …
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