Dollar exit boosts gold and Bitcoin
Gold and Bitcoin prices increased significantly over the week, amidst a decline in the dollar and Washington's moves to regulate cryptocurrencies. The price of gold reached $4,661 on Friday, while Bitcoin rose to over $77,000 after being below $60,000 at the end of June, driven by falling bond yields and investors shifting towards alternative assets. The market also experienced intensified regulatory activities, as U.S. President Donald Trump called for legislation to support cryptocurrencies, boosting demand and increasing buying pressure. Meanwhile, the U.S. national debt surpassed $40 trillion, with expectations of ongoing inflationary tensions and their impact on currency values.
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