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Commodities

Gold and Bitcoin Surge Amid US Fiscal Concerns, Iran Warns of 'Doomed' US Pressure

Guavy AI Editorial Team
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Oil Gold
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Spot gold has returned to $4,600 per ounce for the first time since May, while Bitcoin surged over 20% in a week.

The price of gold rose as investors sought safe-haven assets amid concerns over US fiscal issues. Meanwhile, Bitcoin recorded five consecutive daily gains, rising from $62,000 to $78,000.

Commodities generally experienced a strong week of gains, with international oil prices near one-month highs and agricultural product futures markets volatile due to the El Niño event.

In related news, Iranian Foreign Minister Araghchi stated that US economic pressure actions against Iran are 'doomed to fail.'

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