Gold Tops $4,500 an Ounce as XAUT Futures Volume Surges to $21.2 Million

International gold prices continued their upward trend, surpassing $4,500 an ounce for the first time. This marks a daily gain of over 3% for the metal.

The surge in gold prices has also had a significant impact on trading volume in crypto derivatives tied to the metal. Bitget's Tether Gold (XAUT) futures saw a substantial increase in trading volume, reaching about $21.2 million over the past 24 hours. This represents an impressive 34% rise from the previous period.

The strong performance of gold has been attributed to various factors, including market volatility and investor sentiment. As the metal's price continues to fluctuate, it will be interesting to see how this affects trading volumes in crypto derivatives going forward.