Gold Price Hit All-Time High of $3,300 While Bitcoin Price Drops to $83K

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Gold Price Hit All-Time High of ,300 While Bitcoin Price Drops to K

Gold has crossed the significant milestone of $3,300, reaching an all-time high according to Google Finance today. This surge has sparked excitement among investors, particularly gold enthusiasts. The sudden uptrend has also raised questions about the future of Bitcoin, with well-known gold advocate Peter Schiff advising investors to sell all their Bitcoin holdings.

The price of gold at the start of April was $3,114.040, witnessing fluctuations over the first few days. However, the market took a hit between April 3 and 7 due to global market uncertainty caused by the US tariff policy. On April 8, a tough battle between buyers and sellers resulted in a long-legged Doji candlestick pattern on the daily chart of gold.

The trend shifted on April 9, with the market steadily climbing. Between April 9 and 11, the market surged by over 8.52%. Currently, the gold market appears bullish, with the price starting at $3,230.255 today and currently standing at $3,296.745. On the other hand, the price of Bitcoin has dropped below $83,380, experiencing a 2.6% decline in the last 24 hours.

Peter Schiff has urged investors to ditch Bitcoin and buy gold mining stocks. According to Yahoo Finance, companies involved in gold exploration, mining, processing, extraction, and smelting have seen an average surge of 16.69% in the last 30 days. The sector’s YTD return is at +47.16%, with impressive returns over the one-year, three-year, and five-year periods.

Schiff has also criticized MicroStrategy’s aggressive Bitcoin accumulation strategy, predicting a drop in Bitcoin prices. However, Strategy has outperformed U.S. tech stocks in 2025, with a stock surge of 147.78% over the past year and a YTD growth of 7.29%. In contrast, the broader U.S. tech sector has seen a YTD decline of -14.56%.

In conclusion, the gold market is currently on an upward trajectory, reaching new highs, while Bitcoin faces challenges. Investors are advised to weigh their options carefully and consider the advice from experts in the field before making investment decisions.