Gold, bitcoin have big moves on weak dollar

Why are alternative investments soaring Thursday?

Gold jumped $40 or 2.98% to 1,389. Bitcoin soared to $9,468 up 3.7% or $333.00.

The US dollar traded weakly Thursday after Fed chair Jerome Powell paused and pointed to the possibility of a rate cut at the end of July meeting on Wednesday.

If history is a good barometer, then look for both gold and bitcoin to pull back a bit during Friday’s trading to thwart the idea that the dollar is too weak.

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