On March 8, 2022, the gold market hit new all-time highs for the first time since August 2020 as the price of the precious metal soared to $2,043.7 per ounce. This indicated that investors turned to defensive assets in response to the Russia-Ukraine conflict.
At the end of September, gold was down to about $1,626 an ounce. The precious metal rose slightly in early October, trading above $1,700. At the time of writing, on October 24, it was down again, trading around $1,653 an ounce.
So far, gold is looking more confident than bitcoin.
