Gold and silver are making noteworthy progress in the spot market. Specifically, as per The Kobeissi Letter, Gold ($XAU) has for the 1st time hit the new ATH of $4,500 per ounce. Additionally, as per Watcher.Guru, silver ($XAG) has surged past Apple ($AAPL) to claim the 3rd top rank among the biggest assets. This sheer growth of gold and silver has gained market-wide attention near the Christmas holidays, raising potential for a notable rally in the crypto sector.
Gold Claims $4,511 as New ATH as Silver Becomes 3rd Top Asset by Valuation
As per the new market data, gold ($XAU) has recorded a significant rise in its price, attaining the $4,500/oz mark for the 1st time. Particularly, the precious metal has jumped from $1,000, as of the year 2015, to the latest $4,511. This price level indicates a 0.62% rise in the exclusive session. At the same time, its valuation has spiked to the $31.5T mark, adding to its bullish outlook.
Simultaneously, silver ($XAG) has made a massive growth in valuation. This upsurge has eventually pushed silver above Apple ($AAPL), placing it at the 3rd top position among the largest assets. With such a huge boost in market capitalization, silver is fulfilling the investors’ expectations for a merry conclusion of the year.
Gold and Silver Rallies Signify Likely Year-End Crypto Bull Run
At the moment, as the 3rd biggest asset after outcompeting silver is changing hands at $6.98, showing a 1% rally over the past 24 hours. Simultaneously, the year-to-date price growth of silver indicates a staggering 141% ncrease. In this respect, it has outpaced gold, highlighting increasing industrial demand.
Keeping this in view, gold and silver’s exclusive price rallies underscore the continuously rising momentum around them. While silver is elevating its ranks, gold is cementing its dominance in the market. Overall, this rally could trigger a crypto bull run by the year’s end.
