Last updated on June 9, 2025
Gold prices in Canada escalated Up to USD 3360, which means an increase of 3% from May 29 to June 2, the highest in over three weeks, according to market data. This increase coincides with the weakening American dollar, which prompts Canadian investors to consider alternative investments, including Bitcoin.
Bitcoin has maintained a fixed price above USD 105,000, which indicates the potential of growth, because investors are looking for assets less correlated with the American dollar. The American dollar index (DXY) has reached the lowest point in six weeks, which traditionally encourages investment in assets such as cryptocurrencies.
Secretary of the US Treasury Janet Yellen In an interview with CBS, he stated that the US “never intended by default.” However, concerns about the US debt ceiling were expressed by JPMorgan Chase CEO JDimon’s friendemphasizing fiscal challenges with a US federal debt of USD 31.2 trillion. This scenario led investors to explore assets that could offer better returns among the falling dollar.
Despite the fact that the US maintains the world’s largest gold reserves, potential sales of even a small part of these reserves can affect gold prices. If the United States deprived 17% of gold, they would still maintain a leading position around the world, but would not significantly affect the federal deficit. And vice versa, an equivalent investment in Bitcoin may increase the dominance of the US on the cryptocurrency market, potentially exceeding China’s estimated resources.
Canada, main gold producer, takes fourth place Globally in the production of gold behind China, Russia and Australia. Among the ongoing commercial disputes and geopolitical tensions, the United States shows a slight tendency to increase gold prices, potentially creating possibilities for bitcoins.
Recent financial data indicate net outflows from stock market rotary funds (ETF) in Canada, contrasting by $ 3 billion net inflow to ETF Bitcoin from May 15. This change suggests weakening trust in short -term gold growth prospects compared to the Bitcoin market, which, with a market capital in the amount of $ 2.1 dollars, gives more dynamic investment investment.
As the fiscal stability of the US government, the Bitcoin government is becoming more and more perceived as protection against economic uncertainty. Although the increase in Gold prices is significant, Bitcoin’s potential as a varied investment option attracts attention among Canadian investors.
