Bitcoin Rides Trump Wave to All-Time High
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4 Minute Read
Here's how some major markets/indexes performed in the last 5 days:
Dow Jones: 44,133 (5.07%)
S&P 500: 6,009 (4.95%)
Nasdaq 100: 21,135 (5.62%)
TSX: 24,761 (2.24%)
BTC: 77,167 (12.15%)
Ethereum: 2,976 (21.06%)
(USD)
As of 11/08/2024 at 11:50AM PST
Bitcoin Rides Trump Wave to All-Time High
After Donald Trump's election win, Bitcoin surged past $75,000, lifted by investor hopes for looser crypto regulations and a weakened U.S. dollar. Trump’s economic policies and potential for reduced regulatory pressures fueled speculation, sending the digital asset up as it edges closer to the highly anticipated $100,000 mark. For those eyeing crypto, this rally points to Bitcoin’s expanding influence on the economy and markets alike.
Why It Matters: Bitcoin’s bull run underscores how political outcomes and economic policies increasingly affect digital assets. Trump's pro-crypto stance could ease regulations, making Bitcoin more appealing to mainstream investors and pushing demand even higher.
Bottom Line: Bitcoin’s latest record high is a sign of growing mainstream interest. If pro-crypto policies come to fruition, digital assets may gain new legitimacy, setting the stage for further growth in the sector.
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Gold Dips as Dollar Rebounds and Markets React to Trump’s Election Win
Gold prices slid to around $2,690 per ounce after a volatile week marked by Donald Trump’s 2024 election win and the Federal Reserve’s recent rate cut. Despite a weaker dollar following the Fed’s easing, spot gold faced headwinds as investors flocked to riskier assets, shaking off some of gold’s allure as a safe haven.
Why It Matters: The Fed’s rate cut offers some support to gold by making non-yielding assets more attractive. Yet, Trump’s pro-growth policies and inflation expectations are boosting the dollar and Treasury yields, which could pressure gold’s appeal in the medium term.
Bottom Line: With markets digesting the implications of a Trump presidency and potential inflationary pressures, gold may remain volatile. Investors are watching closely as the Fed signals further rate cuts, weighing their effects against a stronger dollar and changing market sentiment.
📢 This Week's Selected Company News:
Banyan Gold Confirms High-Grade Continuity at Powerline, AurMac Project
Banyan Gold Corp. (TSX.V: BYN) has released promising drill results from its Powerline deposit at the AurMac Project, reinforcing high-grade gold continuity and defining key structural controls. The drill program, focused on expanding known mineralization, delivered consistent high-grade intervals that underline the potential for significant resource growth. President and CEO Tara Christie noted that these results support Banyan’s exploration strategy and further solidify AurMac as a major Yukon-based asset.
Lexaria Accelerates in GLP-1 Development Race with Promising Updates
Lexaria Bioscience Corp. (NASDAQ: LEXX) shared exciting advancements in its pursuit of GLP-1-based treatments, highlighting accelerated progress and strategic innovations that position it strongly in the competitive landscape for diabetes and weight loss therapies. The company’s proprietary DehydraTECH™ platform is enhancing GLP-1 delivery, aiming to improve efficacy and patient experience compared to existing options. Lexaria’s momentum in this high-demand therapeutic area underscores its commitment to advancing innovative solutions for metabolic health.
Sandstorm Gold Royalties Reports Strong Q3 2024 Results with Record Revenue and Robust Portfolio Growth
Sandstorm Gold Ltd. (TSX: SSL, NYSE: SAND) has announced impressive third-quarter 2024 results, with record revenue and consistent portfolio growth fueling its momentum. The company reported solid earnings and cash flow, driven by increased production volumes and strategic additions to its diversified royalty portfolio. Sandstorm's continued focus on high-quality assets and operational excellence has positioned it well for sustained growth and shareholder value as it looks ahead to further development.
Outcrop Silver
(TSX.V: OCG, OTCQX: OCGSF)
Outcrop Silver is expanding the Santa Ana project through step-out drilling, targeting significant silver resource growth and long-term development.
First Nordic Metals
(TSX.V: FNM, OTCQB: FNMCF)
First Nordic Metals aims to advance its flagship Barsele Gold project in Sweden, one of Europe's largest gold deposits, while growing its assets in Finland's promising greenstone belt.