RATE Group | Gold Outperformed Bitcoin In October
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Gold Outperformed Bitcoin In October

31 Oct Gold Outperformed Bitcoin In October

Posted at 12:37h in Bitcoin News by

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When investing in alternative assets gold remains the king.

The yellow metal performed far better than the world’s best-known cryptocurrency, Bitcoin, during October’s market volatility.

Gold bars sit in a vault. Photographer: Carla Gottgens/Bloomberg

When investors buy alternative assets, they typically look for two things.

Safe-haven?

First, they want to know how the asset will perform as a safe-haven asset during times of market volatility.

It should be clear that over the last month we have seen plenty of market volatility. Stocks have made some wild intra-day swings, starting the day substantially up and then ending lower than the previous close.

In addition, the S&P 500 index, which gets tracked by the SPDR S&P 500 exchange-traded fund, lost more than 8%, so far in October.

While stocks fell, gold prices gained. Prices for the yellow metal started the month at $1,189 a troy ounce and were recently trading at $1,220, according to data…

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