Based on BitJie, gold prices fell more than 5% on December 29, marking the largest single-day drop in over two months. Silver, platinum, and palladium also experienced significant declines. Analysts remain divided on the market's future direction, with some predicting continued volatility and others suggesting a potential shift in favor of cryptocurrencies. Meanwhile, the crypto market saw a rebound, with Bitcoin briefly reaching $90,000 and Ethereum hitting $3,000. However, the following day saw a reversal, with gold rising slightly and crypto values dipping again.
Gold Price Plummets 5% in Largest Single-Day Drop in Over Two Months
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Summary
Gold prices dropped over 5% on December 29, the biggest single-day fall in more than two months, according to on-chain data. Silver, platinum, and palladium also fell sharply. Analysts are split, with some expecting more swings and others pointing to on-chain analysis showing growing interest in crypto. Bitcoin briefly hit $90,000 and Ethereum reached $3,000, but both dipped the next day as gold edged up slightly.
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