Gold Surges Past Bitcoin as Crypto Traders Seek Attractive Returns

Gold's allure is drawing in crypto traders as its price has become more attractive than Bitcoin over the past year. According to CryptoQuant, metals took 54.2% of tracked non-crypto trading volume on Gate as of Tuesday, ahead of equities at 38.7%. The estimated cumulative volume of $18.3 billion this month suggests a strong interest in gold.

China's imports of gold have also surged, with over 1,000 tons imported in the first eight months of 2026, exceeding last year's total. This is attributed to a strong yuan and more generous regulatory quotas. The central bank has also been buying gold, adding about 80 tons between January and August.

Gold's price decline since January may be attracting buyers who see it as a temporary correction. However, analysts are cautious, noting that sustained activity beyond individual spikes is needed to strengthen the case for a lasting recovery in participation.