Gold hits record high of $3.5K, Bitcoin tops $90K as investors flee US dollar

New York Post - Apr 22nd, 2025

Gold prices hit a record high, and Bitcoin surged past $90,000 as investors moved to safe-haven assets amid concerns over the US dollar's strength. President Donald Trump's tariff policies have added instability to the markets, prompting a shift towards alternatives like gold and Bitcoin. On the New York Mercantile Exchange, gold reached a peak of $3,500 per troy ounce before settling at $3,426. Bitcoin also climbed to nearly $91,000, reducing its year-to-date losses. The influx into these assets has been attributed to both geopolitical concerns and domestic monetary policy, with central banks and retail investors driving the surge.

The broader implications are significant as the US dollar struggles against a backdrop of policy instability and a record trade deficit. President Trump's call for the Federal Reserve to lower interest rates has added to the uncertainty, affecting traditional financial assets like US equities and Treasuries. Analysts warn that a declining faith in the dollar is pushing investors towards gold and Bitcoin as hedges. The dollar index has dropped to its lowest level since February 2022, raising fears about the dollar's global status. Meanwhile, central banks are expected to continue purchasing gold, further influencing market dynamics.

Donald Trump Federal Reserve Bitcoin Jerome Powell Jp Morgan Gold Prices Monetary Policy Us Dollar Weakness Tariff Policies Geopolitical Concerns

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RATING

5.4

Moderately Fair

Read with skepticism

The article provides timely and relevant coverage of significant economic events, focusing on the rise of gold and Bitcoin as safe-haven assets amidst perceived instability in US economic policies. While it presents a clear and engaging narrative, the article falls short in terms of accuracy and transparency, with several key claims requiring verification and a lack of detailed sourcing. The balance could be improved by including a wider range of perspectives, particularly from government officials or independent economists. Despite these weaknesses, the article effectively engages readers interested in financial markets and investment strategies, though its impact on broader policy discussions may be limited. Overall, the story is informative but would benefit from more thorough verification and diverse viewpoints to enhance its credibility and depth.

Accuracy

The story contains multiple claims that require verification, such as the gold price reaching over $3,500 per troy ounce and Bitcoin breaking through the $90,000 threshold. These figures need to be cross-checked with reliable financial data sources to confirm their accuracy. Additionally, the article mentions a nearly 30% rise in gold prices since Trump's return to the White House, which needs precise verification of both the percentage increase and the timeline of Trump's return. The claims about central banks and retail investors driving a surge in gold and JPMorgan's gold price projections also require confirmation from credible sources. The mention of the ICE US Dollar Index falling by over 1% and the US posting a record $1.2 trillion trade deficit in 2024 are significant claims that demand verification through official economic reports. Without these verifications, the article's factual accuracy remains questionable.

Balance

The article presents a variety of perspectives on the economic situation, including comments from financial analysts and economists. However, it leans towards emphasizing the negative impact of President Trump's policies on market stability, which might suggest a slight bias. While it includes views from JPMorgan and Pepperstone analysts, it lacks input from government officials or other economic experts who might provide a more balanced view of the situation. The piece could be more balanced by including perspectives that either support or offer alternative explanations for the economic trends discussed, such as the potential benefits of a weaker dollar for exports.

Clarity

The article is generally clear in its language and structure, making it accessible to readers with a basic understanding of financial markets. It logically flows from discussing the rise in gold and Bitcoin prices to the broader economic implications and investor behaviors. However, some complex financial terms and concepts, such as ETF inflows and the US Dollar Index, are not explained in detail, which might limit understanding for readers unfamiliar with these topics. Overall, the article maintains a neutral tone, but could benefit from additional context for less common financial concepts.

Source quality

The article references analysts from JPMorgan and Pepperstone, which are reputable financial institutions, lending some credibility to the claims. However, it lacks direct citations or links to reports or data from these sources, reducing the reliability of the information. The absence of direct quotes or detailed attribution for some claims, such as the exact figures for gold and Bitcoin prices, weakens the source quality. For a more robust evaluation, the article should include a broader range of sources, including government reports and independent economic analyses.

Transparency

The article does not provide clear explanations of the methodologies used to arrive at the financial projections or economic analyses presented. There is a lack of transparency regarding the sources of data for the gold and Bitcoin prices, as well as the underlying assumptions for JPMorgan's forecasts. Additionally, the article does not disclose any potential conflicts of interest that the analysts or institutions might have, which could affect the impartiality of their statements. Greater transparency in these areas would enhance the article's credibility.