Gold's volatility has surpassed bitcoin. It is at its highest since 2008

Gold prices have become more volatile than bitcoin quotes, Bloomberg has calculated. According to the agency, the 30-day volatility of gold exceeded 44% - this has not happened since the 2008 crisis, notes Bloomberg, emphasizing that - for comparison - bitcoin volatility for the same period was about 39%.

This is a non-standard situation: gold is usually considered a more reliable and calm asset, while cryptocurrencies - much more volatile and speculative, the agency notes, recalling that in the 17 years of bitcoin's existence, gold turned out to be more volatile only twice. The last time such a situation was observed in May last year, amid escalating trade tensions due to threats to impose duties on almost all goods imported to the U.S. by American President Donald Trump.

Such growth of the precious metal volatility occurred after the sharpest drop in gold prices for more than a decade, Bloomberg writes. On Monday, February 2, gold at the moment cheapened by almost 10%, falling to $4400 per ounce, after the price peak above $5600 last week. The value of precious metals has been driven to records by economic uncertainty, Bloomberg notes. At the beginning of 2026, this price rise accelerated sharply: gold was actively bought because of geopolitical risks, weakening currencies and fears around the independence of Fed policy. Additional excitement was created by purchases by Chinese speculators.

Bitcoin, on the other hand, failed to capitalize on the same factors. On Monday, February 2, it hit a 10-month low after a weekend sell-off and is down more than 40% from its October peak.

Bitcoin has fallen in price by 21% over the past 12 months, while gold has risen about 66% over the same period, Bloomberg points out.

This article was AI-translated and verified by a human editor