Briefly
Gold surged previous $5,100 per ounce for the primary time ever, validating Myriad prediction market customers who guess it will hit $5,000 earlier than Ethereum since November.
Ethereum is down greater than 10% within the final week, with 69% of Myriad customers predicting it’s going to drop to $2,500 earlier than recovering to $4,000.
The gold rally accelerated after President Trump threatened 100% tariffs on Canada over potential China commerce offers, reinforcing gold’s safe-haven attraction amid geopolitical uncertainty.
Gold surged to a brand new all-time excessive value above $5,100 per ounce on Monday, confirming predictions from customers on Myriad that it will high $5,000 earlier than Ethereum.
Customers on the prediction market platform—which is owned by owned by Decrypt’s father or mother firm, Dastan—have been bullish on gold since November 22, 2025. On the time gold predictors pulled forward, the valuable steel was hovering round $4,000 per troy ounce and Ethereum had sunk to about $2,680, in keeping with crypto value aggregator CoinGecko.
The truth is, 69% of customers on Myriad now assume it is doubtless that Ethereum drops to $2,500 ahead of it will probably climb again to $4,000, reflecting a rising bearishness across the second-largest crypto asset. ETH was lately buying and selling for $2,883.
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It isn’t as if Myriad customers have been alone in considering that gold was headed greater. Wall Road big Goldman Sachs lately put out a brand new value forecast calling for gold to achieve $5,400 earlier than the top of the yr.
Gold tends to surge when traders are positioning for uncertainty as commerce tensions flare. Whereas the steel has benefited from its long-standing function as a secure haven, cryptocurrencies like Ethereum and Bitcoin have struggled to draw the identical defensive flows, buying and selling extra like threat property than hedges towards geopolitical stress.
The closest ETH has gotten to surpassing the milestone was when it set a brand new all-time excessive of $4,946.05 in August. At its present value, Ethereum has fallen greater than 10% previously week, in keeping with CoinGecko.
Gold has now surged greater previous $5,100 per ounce for the primary time in its historical past. The worth of gold jumped by 65% in 2025 and has now gained about 12% within the first three weeks of 2026.
The gold spike comes after President Donald Trump threatened over the weekend to hike tariffs on Canada by 100% if it made a commerce take care of China.
“Canada is systematically destroying itself. The China deal is a catastrophe for them. Will go down as one of many worst offers, of any sort, in historical past,” Trump wrote in a Reality Social put up over the weekend.
Canadian Prime Minister Mark Carney stated on Sunday that Ottawa has no plans to pursue a free commerce take care of China, noting the current settlement solely reduces tariffs on choose sectors. However Canada nonetheless seems to be making an attempt to diversify its buying and selling companions to cut back reliance on the U.S.
Now a commerce envoy is telling Reuters that Carney will doubtless go to India in March to “signal offers on uranium, power, minerals ​and synthetic intelligence.”
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