Whether gold will beat cryptocutrency
Reporting data from the Refinitiv US stock exchange (Wall Street) collapsed to its lowest level in 2 months on Wednesday (12/5/2021) local time, the Dow Jones index was minus 2%, while the S&P 500 and Nasdaq were minus 2.14% each. and 2.67%. The world gold price also reversed direction, from previously climbing to reach its highest level in 3 months, yesterday it slumped 1.2% to US $ 1,815.43 / troy ounce. Then bitcoin was even worse, yesterday it fell more than 4%, today it even dropped 17% to US $ 45,000 / BTC which is the lowest level since last March 1. Other cryptocurrencies have had the same fate, ethereum today minus 9%, and ripple down more than 10%. Meanwhile, core inflation, which excludes the energy and food sector, grew by 3% yoy and 0.9% mtm, more than expectations of 2.3% yoy and 0.3% mtm. The increase in annual inflation was the highest since 2008, while on a monthly basis it was the largest in the last 40 years. As a result, the data again raises speculation the US central bank (The Fed) will tighten its monetary policy faster than expected.