Gold surged past $3,600/oz to a record high as global central banks, BRIC nations, and even El Salvador ramp up purchases, diversifying reserves away from the U.S. dollar. While gold shines as a hedge, Bitcoin advocates highlight its exponential gains and portability as the real long-term bet.

Gold surged to a record near $3,600 an ounce after a weak U.S. jobs report reinforced expectations that the Federal Reserve will cut interest rates, extending a powerful 2025 rally. Spot prices reached as high as $3,597.80 and were on track for a weekly gain of about 4%, while gold futures also broke above $3,650 for the first time. The move reflects a broader shift toward safe-haven assets amid concerns about slowing U.S. labor-market conditions, geopolitics, trade uncertainty, and questions about Federal Reserve independence. Gold has risen more than 36% this year, and major banks have been issuing increasingly bullish forecasts, with some analysts projecting prices above $4,000 by mid-2026. The CryptoSlate framing adds a second layer to the story: central-bank buying and reserve diversification away from the U.S. dollar remain key themes in the gold market, while bitcoin advocates continue to argue that bitcoin offers stronger long-term upside and easier portability than bullion. Even without endorsing either asset, the comparison matters because it places gold’s record run in the larger debate over hard-money stores of value and reserve-asset competition.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• Gold price jumps to new high on US jobs report - MINING.COM (mining.com)
• Gold prices surge past $3600 per ounce. Is it too late to buy in now? (cbsnews.com)
• Gold's All-Time High at $3600: What's Driving the Surge? (jrotbart.com)
• Will Gold hit $3600 before June? - Polymarket (polymarket.com)

Explore the topic

• El Salvador
• Gold
• Central Bank