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AAAU
Benzinga
105 days

Bitcoin Sideways, But Gold-Backed Cryptos Advance As Precious Yellow Metal Hits A Two-Week High

1. Gold price rose 0.74% to $3,358.91 per ounce. 2. Tether Gold and PAX Gold spiked 3%, gaining over 28% year-to-date. 3. Investors anticipate interest rates to remain unchanged at 97% probability. 4. Uncertainty over Trump's tariffs is affecting market sentiment. 5. Bitcoin gained only 0.15%, underperforming compared to gold-backed cryptocurrencies.

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FAQ

Why Bullish?

Gold's steady increase and gains in gold-backed cryptocurrencies indicate a positive trend. Historical correlation shows gold benefits during market uncertainty, enhancing AAAU's attractiveness.

How important is it?

The article highlights trends in gold pricing and investor behavior relevant to AAAU's market dynamics.

Why Short Term?

The upcoming Fed meeting could quickly influence market sentiment, impacting AAAU. Similar past events have led to swift price reactions.

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