Swiss franc and gold outperform Bitcoin amid market turmoil

Amid rising recession fears and trade tensions, gold and the Swiss franc continue to outperform Bitcoin and other assets like US Treasury bonds.

Gold prices have hit a record high of $3,240, outpacing Bitcoin and US bonds, as the global economic outlook grows increasingly uncertain.

The Swiss franc and gold are currently leading the pack as safe-haven assets amid ongoing stock and bond market turmoil.

The Swiss franc has soared, outperforming many currencies, including the US dollar, which has dropped to 2018 lows.

The surge is mainly attributed to Switzerland’s long-standing neutrality and banking secrecy laws. These factors have made the country a financial safe haven for many years.

Gold has also seen impressive gains, reaching a record high of $3,240. The precious metal has risen by 125% since the pandemic lows and by 24% this year alone. In comparison, Bitcoin has failed to keep pace. Its price dropped from an ATH of $109,300 to $83,000, reflecting broader market concerns.

The Swiss National Bank (SNB) has also benefited from its substantial investments in top American companies and US Treasury bonds.

Despite rising recession fears and US-China trade tensions, gold and the Swiss franc are outperforming Bitcoin, US bonds, and stocks.

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