gold

According to Gate market data, gold (XAUUSD) has fallen to 4400 USD/ounce, currently reported at 4384.07 USD/ounce, with a 24-hour decline of 1.8%.

According to CoinDesk, the Bitcoin-to-gold ratio has risen to 18.17, the highest level since January of this year. This means that one Bitcoin can now purchase just over 18 ounces of gold. The current Bitcoin price is approximately $81,000, which has not only increased in dollar terms but has also outperformed gold, a hard asset with a history of hundreds of years.The simultaneous rise of both assets stems from market concerns that governments may dilute debt through currency devaluation. With the exception of Switzerland, all major developed economies have a debt-to-GDP ratio exceeding 100%, with the United States leading in terms of basic deficits. U.S. Treasury Secretary Scott Benset stated at the G20 finance ministers' meeting, "The world is awash in debt... The only way out of this predicament is growth."Bitcoin bull and SkyBridge Capital founder Anthony Scaramucci posted on X that Benset's remarks inadvertently promoted Bitcoin: "Benset stood in front of the G20 and said the world is awash in debt; that’s the entire selling point of Bitcoin. The 20 finance ministers just released the best Bitcoin advertisement of the year, even though they did not intend to." Bitcoin exists outside the traditional financial system and, unlike fiat currencies such as the dollar, yen, and euro, cannot be devalued by policy decisions.

Bitwise's latest report shows that the correlation between Bitcoin and gold has risen to a six-year high. Bitwise's Head of Research for Europe, André Dragosch, stated that the last time the correlation reached this level was in 2020, during the period of multiple fiscal and monetary stimulus following the COVID-19 pandemic; meanwhile, the correlation between Bitcoin and the stock market has dropped to a one-year low, suggesting a decoupling between hard assets and the stock market.The report believes that the simultaneous rise of Bitcoin and gold is due to the "substantial intervention in the macro picture" by the U.S. government. Last month, the U.S. Treasury announced it would more than double the scale of government debt buybacks, leading to a weakening of the dollar, and investors flocked back to gold and Bitcoin; in the same week, U.S. public debt surpassed $40 trillion for the first time, further undermining market confidence in the dollar. Bitwise stated that investors are no longer entangled in whether to hedge against currency depreciation with gold or Bitcoin, but are holding both simultaneously, and pointed out that "Bitcoin has been priced as a risk asset for its first fifteen years, and if this correlation trend continues, the next fifteen years could be very different."Driven by this, Bitcoin rose again this week, increasing nearly 6% within 24 hours, with the price briefly approaching $81,438.

The Japanese yen has recently strengthened significantly against the US dollar, with the USDJPY exchange rate falling 1.4% to 156.4, continuing a 0.9% decline from Wednesday. The US Dollar Index (DXY) subsequently dropped 0.4% to 99.22, testing its 200-day moving average around 99.1. Against this backdrop, Bitcoin and gold have risen in tandem, contrasting with the traditional understanding that "a stronger yen usually triggers risk-off selling."Analysis indicates that the strength of the yen is beneficial for Bitcoin primarily because it has lowered the US Dollar Index, and a weaker dollar typically supports dollar-denominated assets and eases global financial conditions. However, if the yen's appreciation accelerates, this dynamic may quickly reverse. Over the past decade, traders have borrowed large amounts of cheap yen to make bullish bets on stocks, bonds, and even cryptocurrencies; a disorderly appreciation of the yen could trigger the unwinding of these positions, leading to risk aversion.The rapid appreciation of the yen has previously put pressure on Bitcoin, most notably during the yen carry trade unwinding in August 2024, when Bitcoin fell about 20% within a few days. Currently, traders are increasing their bets that the Bank of Japan will raise interest rates from 1% to 1.25% at the meeting on September 18, and it has been reported that US and Japanese authorities have previously intervened to support the yen, suggesting that there is little resistance to further strengthening of the yen.

According to CoinDesk analysis, Bitcoin is approaching the "golden cross" technical signal where the 50-day moving average crosses above the 200-day moving average. Historical data shows that since 2012, Bitcoin has experienced 12 golden crosses, with an average increase of 24.9% over three months for 9 of them, but only 3 have maintained for a full year without being broken by a death cross, with an average annual increase of 250%.What makes this golden cross different from previous ones is that the USDT market share is simultaneously approaching a "death cross" ------ its 50-day moving average is about to cross below the 200-day moving average. A decline in USDT market share usually indicates that funds are flowing out of stablecoins and into risk assets like Bitcoin, and this indicator has previously marked significant trend changes for Bitcoin. The combination of both further strengthens the bullish signal for this round of Bitcoin rebound.

Bloomberg ETF analyst Eric Balchunas posted that over the past 6 months, Bitcoin's correlation with the U.S. stock market has been lower than that of gold, small-cap stocks, emerging market assets, and U.S. Treasuries.He stated that Bitcoin's historical correlation with U.S. stocks has roughly maintained around 0.4, while gold and U.S. Treasuries have seen a significant increase in their linkage with U.S. stocks recently.Balchunas noted that although this time window is relatively short, it is sufficient to refute the claim that "Bitcoin is just another QQQ."

The US spot XRP ETF has recorded net inflows for 11 consecutive trading days, attracting approximately $170 million in funds during this period. Since its launch in November last year, the cumulative net inflow of these funds has reached about $1.68 billion. As of Wednesday morning, the trading price of XRP was around $1.33, down from about $1.45 on August 27, but still higher than the $1 level in mid-August.According to the disclosures in the 13F filings, Goldman Sachs is the largest institutional holder of the XRP ETF, holding approximately $87.4 million, while Jane Street and Millennium Management hold $16.6 million and $16.2 million, respectively. Investment advisors are the largest category of holders, accounting for about $120 million of the disclosed $183 million, while hedge funds hold about $25 million, and brokers and banks hold approximately $17 million and $14 million, respectively.However, institutional holdings and fund inflows measure different dimensions: the 13F filings reflect the holdings as of June 30, while the continuous inflows record new funds from the end of August to early September. These data only reflect the total holdings of the ETF and not the complete exposure of investors to XRP; institutions like Goldman Sachs may hedge part of the price risk through futures or other instruments. The next round of 13F filings will be released in November.

The derivatives protocol Variational on the Arbitrum ecosystem has announced the launch of its swaps market, initially including gold (XAU) and the Nasdaq 100 index (US100) markets. Swaps are similar to perpetual contracts in that they provide exposure to the underlying asset, but differ in terms of liquidity sources and holding costs: the holding cost for swaps is based on the USD borrowing interest rate, with long positions currently paying an annualized rate of 4% to 6%, and short positions receiving an annualized rate of 2% to 3%, replacing the more volatile funding rates.The swaps market charges no trading fees, with an initial open contract limit of approximately $10 million per market. The team plans to increase the limit to over $50 million in the coming days, and the initial protocol can support an open contract size of over $1 billion. The team stated that in the coming months, they will continue to raise limits, launch more swaps and perpetual contract markets, introduce trading APIs, and promote around-the-clock liquidity.

According to CoinGlass data, Bitget gold (XAU) contracts have a 24-hour trading volume of approximately $178 million, a month-on-month increase of 164.10%; the current position value is approximately $81.1254 million, a month-on-month increase of 29.18%.

Bitget CFD Chief Analyst Lewis Huang stated that the hawkish remarks made by Powell at the Jackson Hole global central bank conference have shifted the market's focus from whether there will be a rate hike in September to the possibility that the Federal Reserve may maintain high interest rates for a longer period before inflation clearly falls back to the 2% target, and even retain the option for further tightening of policies.Lewis Huang pointed out that if subsequent CPI, PCE, and employment data continue to be strong, the U.S. 2-year Treasury yield and the dollar index may remain strong, putting continued pressure on gold from the dual forces of rising real interest rates and a strengthening dollar, which may also amplify the volatility of high-valuation tech stocks like the Nasdaq 100.Conversely, if inflation significantly cools and the labor market weakens, the market may lower its rate hike expectations, leading to a decline in the dollar and U.S. Treasury yields, providing support for gold and growth stocks.He added that besides the Federal Reserve's policy statements, traders should also pay attention to whether the U.S. 10-year Treasury yield is influenced by factors such as fiscal deficits, Treasury supply, and rising term premiums.Before and after the release of major data, it is recommended to moderately control leverage and assess market direction based on the interrelationship between the dollar, U.S. Treasury yields, gold, and stock indices.

Bitcoin analyst Willy Woo responded to investor Gary Cardone's doubts, stating that the current market value of gold is approximately $32 trillion. If it continues to play the role of a global currency anchor, its reasonable value should be around $103 trillion. He claims that the traditional view of gold as a "financial asset" is an "illusion" shaped by the U.S. government and Wall Street, and that gold has essentially existed as currency for thousands of years.Woo believes that Bitcoin is striving to become a global hard currency similar to gold. According to this logic, the price of Bitcoin corresponds to about $5 million per coin. He also pointed out that the global fiat currency system has only been in operation for about 55 years, which, compared to the thousands of years of hard currency history, resembles an "experiment."

Real Trump Coins, associated with Trump, denies issuing, promoting, or authorizing any digital tokens, including the Trump Digital GOLD token, which collapsed shortly after briefly appearing on its online channels, attributing the promotional activity to "malicious third-party actors." Previously, Real Trump Coins' X account promoted this Solana-based token on Saturday and directed users to the RealTrumpCoins.com website; the related posts were later deleted, and the account now links to another domain, TrumpCoins.com.Real Trump Coins stated on the X platform: "Trump Coins has never authorized, nor will it issue, promote, or authorize any digital tokens," and indicated that it is cooperating with relevant authorities to investigate the matter. At the time of the statement, the issuance of the GOLD token was highly concentrated; according to on-chain analysis platform Lookonchain, developers and newly created wallets controlled 82.45% of the token's supply, with 15 wallets associated with the team having sold approximately $330,000 worth of holdings, realizing a profit of about $312,000.As of the time of publication, the RealTrumpCoins.com website still displays promotional information for the GOLD token, and Trump himself continues to follow Real Trump Coins' X account, which is one of the 53 accounts he follows.

GoPlus Security issued a security alert stating that a fraud gang has hijacked the realtrumpcoins[.]com website and the @realtrumpcoins1 account, maliciously issuing GOLD tokens. The gang inflated its market value to approximately $60 million before selling off and executing a Rug Pull, profiting over $8.2 million.On-chain data shows that the developers' initial funds trace back to a KuCoin-associated hot wallet, with another 15 trading wallets funded by Binance-associated hot wallets. These wallets all conducted transactions through the same malicious routing contract.GoPlus Security also pointed out that the gang deployed another malicious meme coin, Trump Digital Platinum (PLATINUM), whose contract can empty any holder's balance at any time, warning users to avoid purchasing and to be aware of the risks.

According to EmberCN monitoring, the Trump Digital Gold (GOLD) scam team sold all of its held GOLD tokens around 2 PM today, totaling approximately 824.54 million tokens, accounting for 82.454% of the total token supply, with cumulative profits of about 9784.6 SOL (approximately 1.01 million USD).It is reported that GOLD was created on Solana at 7:38 today, and the related address controlled over 82% of the tokens through token distribution and purchases after the launch. Around 9 AM, the Trump merchandise collaboration account @realtrumpcoins1 posted a tweet containing the GOLD contract address, causing the token market cap to briefly surge to 66 million USD.Around 11:48, the tweet was deleted, and the related address immediately began to sell off its holdings. The market cap of GOLD plummeted from approximately 55 million USD to 1 million USD in about 30 seconds, and the scam operators continued to sell off, eventually liquidating all their held tokens. Currently, the market cap of GOLD has dropped to about 700,000 USD, shrinking by 99% from its peak.

The Hong Kong Securities and Futures Commission has listed Star Bridge Capital, Star Bridge Capital Group, SBCFX, Star Bridge Capital Group, Star Bridge Capital Pty Limited, and Topical Wealth International Ltd as unlicensed companies, prohibiting them from engaging in any regulated activities in Hong Kong or actively promoting their services to the public in Hong Kong (whether within or outside Hong Kong).Previously, it was reported that Star Bridge Capital experienced an abnormal liquidation incident in London gold trading, and after the incident, the Hong Kong office of the platform was empty. Due to some funds being deposited through USDT stablecoin, tracking the funds has become more difficult. The Hong Kong police have accepted the case and temporarily classified it as fraud, but no arrests have been made yet.

According to monitoring by Lookonchain, after the RUG of the meme coin GOLD token, 15 newly created wallets associated with the team have sold all 224.5 million GOLD, exchanging for 3,178 SOL, approximately 330,000 USD. This transaction made a profit of about 312,000 USD, with a return of about 17 times.On-chain data shows that the related team still holds a large amount of GOLD tokens, with market supply highly concentrated.Previously, the GOLD project account claimed a single-day profit of over 8.2 million USD.

The GOLD project-related account realtrumpcoins stated that it has profited over 8.2 million dollars today from "low IQ Trump supporters" and plans to add the related earnings to the 10 million dollar bounty on Barron Trump.The account also claims that Barron Trump's current "net worth" is 18.2 million dollars and mentions the stolen Solana worth 165 million dollars on his phone. The above statements are currently one-sided assertions from the account, and their authenticity remains to be verified.