Gold and Bitcoin scale new heights

Chris Beauchamp IG

It has been a day of moving parts as gold and bitcoin surge while the CAC40 slumps, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

CAC40’s turmoil remains contained

Another political drama in France has failed to resonate beyond the CAC40 and some euro weakness, while the Dax continues to consolidate after recent strength. Notably weakness in the German index was swiftly bought, while the FTSE 100 managed to eke out a record high despite the lack of news.

New highs for gold and bitcoin

Monday’s session closely fits the pattern seen in recent months, as stocks move higher in conjunction with gold and bitcoin. The latter two are roaring higher once more, as liquidity continues to drive these two momentum trades higher. Traders have also been enthused by the new Japanese leader, who promises to reignite stimulus to light a fire under the Japanese economy.

Author

Chris Beauchamp

Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.

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