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Briefly
- Gold surged previous $5,100 per ounce for the primary time ever, validating Myriad prediction market customers who wager it will hit $5,000 earlier than Ethereum since November.
- Ethereum is down greater than 10% within the final week, with 69% of Myriad customers predicting it can drop to $2,500 earlier than recovering to $4,000.
- The gold rally accelerated after President Trump threatened 100% tariffs on Canada over potential China commerce offers, reinforcing gold's safe-haven enchantment amid geopolitical uncertainty.
Gold surged to a brand new all-time excessive worth above $5,100 per ounce on Monday, confirming predictions from customers on Myriad that it will high $5,000 earlier than Ethereum.
Customers on the prediction market platform—which is owned by owned by Decrypt's mum or dad firm, Dastan—have been bullish on gold since November 22, 2025. On the time gold predictors pulled forward, the dear metallic was hovering round $4,000 per troy ounce and Ethereum had sunk to about $2,680, in response to crypto worth aggregator CoinGecko.
In reality, 69% of customers on Myriad now assume it's seemingly that Ethereum drops to $2,500 ahead of it will probably climb again to $4,000, reflecting a rising bearishness across the second-largest crypto asset. ETH was not too long ago buying and selling for $2,883.
It's not as if Myriad customers had been alone in considering that gold was headed larger. Wall Road big Goldman Sachs not too long ago put out a brand new worth forecast calling for gold to achieve $5,400 earlier than the tip of the 12 months.
Gold tends to surge when traders are positioning for uncertainty as commerce tensions flare. Whereas the metallic has benefited from its long-standing position as a protected haven, cryptocurrencies like Ethereum and Bitcoin have struggled to draw the identical defensive flows, buying and selling extra like danger property than hedges in opposition to geopolitical stress.
The closest ETH has gotten to surpassing the milestone was when it set a brand new all-time excessive of $4,946.05 in August. At its present worth, Ethereum has fallen greater than 10% previously week, in response to CoinGecko.
Gold has now surged larger previous $5,100 per ounce for the primary time in its historical past. The value of gold jumped by 65% in 2025 and has now gained about 12% within the first three weeks of 2026.
The gold spike comes after President Donald Trump threatened over the weekend to hike tariffs on Canada by 100% if it made a commerce take care of China.
"Canada is systematically destroying itself. The China deal is a catastrophe for them. Will go down as one of many worst offers, of any variety, in historical past," Trump wrote in a Reality Social put up over the weekend.
Canadian Prime Minister Mark Carney stated on Sunday that Ottawa has no plans to pursue a free commerce take care of China, noting the current settlement solely reduces tariffs on choose sectors. However Canada nonetheless seems to be attempting to diversify its buying and selling companions to cut back reliance on the U.S.
Now a commerce envoy is telling Reuters that Carney will seemingly go to India in March to "signal offers on uranium, vitality, minerals and synthetic intelligence."
