On Tuesday, gold prices saw fresh sellers for the second day in a row, retreating from a two-week peak. The drop comes despite a slight rebound in the U.S. dollar and a generally positive risk tone across markets. Safe-haven assets such as gold were supported by President Trump’s decision to delay raising tariffs on the European Union. The metal’s allure quickly evaporated as investors looked to other options.
Meanwhile, in the crypto space, Quant (QNT) has been recovering well. ICE’s momentum is further stoked by their recent announcement of a layer 2.5 network tailored for institutions and decentralized finance (DeFi). This homegrown advancement is one reason that DeFi tokens have rode a serious rally as even the strongest altcoins couldn’t find their footing.
Ethereum (ETH), Ripple (XRP), Solana (SOL) and Dogecoin (DOGE) suffered losses in the last 24 hours. Their overall declines were modest – between 1% and 3%. Even after such failures from major cryptocurrencies, the price action of QNT continues to be strong, signaling increasing excitement over DeFi projects.
GBP/USD currency pair showed great strength. It held above the 1.3550 level awaiting key U.S. economic data due later Wednesday and a tax vote in the Senate expected later Wednesday. On Monday, GBP/USD hit a 39-month high of 1.3593, an important psychological breakthrough for the currency pair.
“GBP/USD consolidates above 1.3550, awaits US data, Senate tax vote” – www.fxstreet.com
Market analysts have been closely watching recent trends in the markets for gold and crypto. These shifts are perhaps indicative of larger trends guided by fiscal policy and investor appetite. The slight rebound of the U.S. dollar has further contributed to market dynamics as well.
“Gold price moves away from two-week high amid modest USD recovery and positive risk tone” – www.fxstreet.com
Gold has certainly come back down, but the desire for safe-haven assets remains completely on fire. Global uncertainties and inflationary pressures continue to push investors in search of these safe havens. With investors and traders looking ahead to key economic indicators and geopolitical events, volatility is likely to remain heightened in the market.