"Gold's Rally Crashes as Bitcoin and Gold Smash Through Key Levels"
TL;DR Summary
Gold experienced a significant pullback of approximately 6% just hours after economist Peter Schiff confidently stated that its rally was real, unlike Bitcoin's. Schiff had predicted a "spectacular crash" for Bitcoin, attributing its recent surge to a speculative frenzy around spot Bitcoin ETFs. However, while gold plummeted from its all-time high of over $2,100, Bitcoin maintained its position around 18-month highs. The initial rally in gold prices was driven by comments from Federal Reserve Chair Jerome Powell, while Bitcoin's surge was fueled by anticipation of a potential spot Bitcoin ETF approval by US regulators.
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