As U.S. economic data supports expectations of a Federal Reserve rate cut, investors are refocusing on risk assets. Next week’s Federal Reserve interest rate decision has become the center of attention, with the market widely anticipating a rate cut. Related economic data will be released successively, and investors are optimistic about future policy easing.

PANews, December 6—According to Jintou, citing an analysis by the Russian news agency Sputnik of data from the Central Bank of Russia, as of November 2025, the market value of Russia's gold reserves has surpassed the $300 billion mark for the first time, reaching $310.7 billion and setting a new historical high for the fourth consecutive month. In that month, gold accounted for 42.3% of Russia's international reserves, the highest level since February 1995. At that time, the share of gold was 43.9%, with a value of no more than $5.5 billion.

金色财经报道，周五（12月5日）纽约尾盘，现货黄金跌0.30%，报4194.86美元/盎司，本周累计下跌1.03%。

The cryptocurrency market is experiencing a major event today—over $4 billion in options are set to expire, involving major assets such as Bitcoin, Ethereum, Ripple (XRP), and Solana (SOL). Traders generally expect another round of significant short-term volatility in the market, and before next week’s Federal Reserve FOMC interest rate decision, the total crypto market cap may fall below $3 trillion again. In the past 24 hours, there have been $270 million in liquidations in the crypto market. Coupled with rising US Treasury yields, Japanese bonds, and gold prices, Bitcoin and major assets have come under downward pressure. Although BTC, ETH, XRP, and SOL saw a brief rebound during today’s session, the overall technical structure remains weak.

UAE asset management company Mashreq Capital has launched the multi-asset investment mutual fund BITMAC in Dubai, covering equities, fixed income, gold, and Bitcoin, with a minimum investment of $100, aiming to provide retail investors with institutional-level investment opportunities.

Odaily Planet Daily reports that Peter Schiff, senior economist and founder & chief market strategist of Euro Pacific Asset Management & Schiff Gold, said: "To me, the worthless thing about Bitcoin is that it can hardly do anything. Sure, you can transfer it to each other, and the system is quite smart, but at the end of the day, the Bitcoin I transfer is basically useless."

BlockBeats News, December 4, CZ posted, "The debate with Peter Schiff is about to start, preparing backstage." Previously, economist and cryptocurrency critic Peter Schiff challenged CZ to a debate on X regarding "the pros and cons of Bitcoin versus tokenized gold." CZ responded, "Although you oppose Bitcoin, you always remain professional and objective. I appreciate that. We can debate on this topic."

According to BlockBeats, on December 4th, the latest data shows that the US ADP "small non-farm" employment in November unexpectedly decreased by 32,000, which is much weaker than market expectations, indicating that the labor market is cooling at a faster pace. This report serves as an important reference for the Federal Reserve's December interest rate decision, and the weakening employment adds further uncertainty to a potential policy shift. After the data was released, safe-haven assets strengthened, gold prices rebounded to around $4,220, and the crypto market saw increased volatility within a broader range. On the macro level, the decline in employment mainly came from small and micro-sized enterprises, with companies having fewer than 50 employees cutting 120,000 jobs in a single month—the largest drop since March 2023—reflecting simultaneous pressures on end demand and the financing environment. Annual wage growth fell to 4.4%, indicating marginal easing of inflationary pressure. The interest rate futures market has now raised the probability of a 25 basis point rate cut in December to nearly 90.

Driven by widespread market expectations that the Federal Reserve will begin cutting interest rates in December, gold prices rose today, reinforcing its appeal as a safe-haven asset. As economic uncertainties persist and global central banks continue to increase their gold reserves, investor interest in precious metals has significantly increased. Current market sentiment shows that investors expect the Federal Reserve to continue its monetary easing policy until 2026. Such policies typically weaken the strength of the US dollar, which is beneficial for gold prices. Recent reports from institutions such as UBS Group and Commerzbank point out that under continued easing expectations, gold is once again becoming the preferred asset for hedging macroeconomic risks.

ChainCatcher news, according to CoinDesk, options trading volume linked to BlackRock's Bitcoin ETF (IBIT) has surged, with a total of 7,714,246 IBIT options contracts open or outstanding as of Tuesday. According to data from optioncharts.io, among options linked to US-listed stocks, ETFs, and indexes, IBIT options rank ninth in open interest; when considering only stock options, IBIT options rank second in open interest. The report notes that IBIT options have already surpassed gold ETFs and major tech stocks, highlighting Bitcoin's growing appeal as a macro asset. Despite the decline in Bitcoin's price, trading activity for IBIT options is higher than that for options linked to the SPDR Gold Trust ETF, which has risen this year.

In 2025, due to tightening global liquidity, increasing financial stress, and capital outflows, investors have increasingly favored safe-haven assets such as gold, while Bitcoin has come under relative pressure. Spot gold continues to strengthen, currently finding support near $4,000 and is expected to move toward the $4,500 resistance zone. In contrast, Bitcoin has pulled back after reaching an all-time high in October and, constrained by tight financing and market leverage pressures, is currently seeking a rebound at the key $80,000 support level. Macroeconomic factors have led to a clear divergence between the two: the overnight financing rate (SOFR) is near 4.0%, the Treasury General Account (TGA) remains elevated, global liquidity is restricted, and systemic financial stress is rising. Demand for risk assets has weakened, while demand for safe-haven assets has rebounded, pushing gold prices higher. At the same time, financial market volatility and the unwinding of arbitrage trades have exacerbated short-term pressure on Bitcoin.

Amazon has launched its next-generation AI chip Trainium 3, with training speeds four times that of its predecessor, aiming to capture market share from Nvidia. Several Bitcoin mining companies are transitioning to AI infrastructure, with a surge in investment, but analysts warn of a potential funding gap of up to $800 billion.

PANews December 3 news, according to the Hong Kong Economic Journal, the Hong Kong Gold Exchange (HKGX) has issued a digital gold Token Gold Zip (XGZ) through its subsidiary in Singapore, with each Token backed by physical gold stored in accredited vaults, mainly warehoused in Hong Kong.

Odaily News Gold prices fell on Tuesday from a more than six-month high, with Spot gold losing the $4200 per ounce mark during the day. This was partly due to the rise in U.S. Treasury yields and profit-taking that weighed on prices, while investors awaited U.S. economic data to assess the Fed's policy path. The Benchmark 10-year U.S. Treasury yield remained near a two-week high, diminishing the appeal of non-yielding assets like gold. KCM Trade chief market analyst Tim Water noted: "Gold has performed weakly today, but the fundamentals remain unchanged— including the expected Fed rate cuts, which should support gold prices from a yield perspective." Market sentiment is cautious, with expectations that the core PCE price index, a favored inflation indicator by the Fed, will remain moderate when released on Friday. Additionally, key U.S. data this week includes the November ADP employment report on Wednesday. (Jin10)

Bloomberg Intelligence commodity strategist Mike McGlone predicts that Bitcoin may retrace to $50,000, and the Bitcoin-to-gold ratio could drop to 13 times, indicating increased market risk. His model currently shows that this ratio is around 20 times, with the key being the S&P 500 index volatility approaching its lowest point since 2017.

Odaily News On-chain analysis platform Glassnode co-founder Negentropic stated on X platform that historically, the simultaneous rise in prices of three precious metals: copper, silver, and gold, usually triggers: better performance of Bitcoin, momentum in altcoins (especially high liquidity altcoin assets), and a structural transition to a bull run. This is because the rise in hard asset prices often indicates that global liquidity is shifting from financial tightening to expansion, and Crypto Assets will be the biggest beneficiaries.

PANews, December 1st news, cryptocurrency analyst Willy Woo released a comparison chart of bank runs. Tether (USDT) experienced a redemption wave of about 20-25% in 2022 and still fully paid out, outperforming traditional banks like Silicon Valley Bank (25%) and First Republic Bank (57%). Woo pointed out that 77% of Tether's current assets are in cash equivalents, with the rest in gold and Bitcoin, totaling an over-collateralization of 3%. Even if volatile assets fall by 30% in extreme market conditions, USDT still has 95% asset backing.

PANews, November 30 news, according to Techinasia report, Emirates Gold and Public Gold have launched a gold ATM in the UAE. This machine allows users to purchase gold and silver bars using Wallet or credit cards and withdraw physical gold and silver from their digital account. The two companies plan to deploy 35 to 40 ATMs nationwide in the UAE by 2026. Future possible features include cryptocurrency exchange.

According to a report by Jinse Finance, CITIC Securities released a research report stating that the explanatory power of marginal demand on gold pricing has increased. Returning to traditional supply and demand logic, due to relatively stable gold supply, with annual production basically maintained at around 3600 tons, the true pricing variable for gold lies in demand, especially marginal demand. Gold demand mainly includes three parts: private sector consumption demand, private sector investment demand, and official gold purchasing demand. In the past, marginal demand for gold was mainly contributed by ETF demand from Europe and the United States (private sector investment demand in Europe and the United States, mainly from overseas institutional investors), and its demand or investment framework mainly depended on the real interest rate of U.S. Treasury bonds. Private sector investment demand in Europe and the United States (such as ETF demand) still shows a strong correlation with the real interest rate of U.S. Treasury bonds. As U.S. inflation recedes and labor market resilience declines, expectations for Fed interest rate cuts in the second half of the year are rising, leading to a decline in nominal and real interest rates driven by the onset of rate cuts.

PANews, November 30 news, economist and cryptocurrency critic Peter Schiff stated on the X platform that "Despite the hype and buying by MSTR and other Bitcoin reserve companies in 2025, there is only one month left until the end of the year, and Bitcoin has fallen by 4%. However, without any hype or corporate buying, gold and silver have risen by 60% and 95%, respectively. This divergence is likely to continue in December and 2026."

Odaily News Arthur Hayes stated on the X platform that Tether is in the early stages of large-scale interest rate trading. Tether believes that the Fed will cut interest rates, which will reduce its interest income, hence buying gold and BTC as a response. If the holdings of gold and BTC fall by about 30%, it will deplete its equity, theoretically putting USDT at risk of insolvency.

Golden Finance reports that Canadian billionaire Frank Giustra has harshly criticized Michael Saylor's suggestion to sell gold in exchange for Bitcoin, calling it naive and overly simplistic, and dangerous. Giustra pointed out that emerging economies like China and India have been actively accumulating gold over the past 15 years, which makes gold more resilient than Saylor believes and more supported globally.

Due to technical issues at the CME, Spot gold and silver have experienced significant Fluctuation this week, with gold rising nearly $150 to return above $4200, and silver rising to $56, reaching an all-time high. Next week, the Fed will hold a meeting, and the market will follow the release of several economic data, with increased volatility expected. The probability of a Fed rate cut has risen to 80%.

Golden Finance reports that gold advocate and economist Peter Schiff stated that silver prices have just surpassed $56, reaching a historical high. Gold prices have soared to $4220. Mining stocks are skyrocketing, while Bitcoin is experiencing a fall. Wall Street continues to chase Crypto Assets, while the real bull run is sweeping in.

Golden Finance reports that Spot gold continues to pump, standing above $4200/ounce for the first time since November 14, with an intraday rise of over 1%.

PANews, November 28th news, Chicago Mercantile Exchange (CME): The CME Globex futures and Options market will begin pre-opening at 7:00 AM Central Time (9:00 PM Beijing Time) and officially open at 7:30 AM Central Time (9:30 PM Beijing Time). It is reported that the CME Globex electronic platform offers thousands of different expiration dates for futures options and inter-product arbitrage contracts. Its product categories are extensive, including metals (such as gold and silver), energy (such as crude oil), interest rates, agricultural products, stock indices, foreign exchange, as well as real estate and weather futures and options. Currently, over 90% of the futures contracts at the CME can be electronically traded and matched on the Globex platform.

BlockBeats news, on November 27, Minara announced its official launch. As the first intelligent agent in the digital finance field to achieve a complete closed loop of "analysis-decision-execution," users can conduct market analysis, strategy judgment, and stablecoin trading by simply conversing in natural language with Minara. It can generate an automatically running intelligent agent with just one click, enabling market tracking, trading, and alerts without any coding. In other words, Minara packs an entire professional investment team into the user’s chat window. Relying on multi-source real-time data and an intelligent financial analysis system, Minara can provide faster, more accurate, and more intelligent personalized financial assistance across various assets such as stocks, gold, commodities, Bitcoin, tokens, NFT, Decentralized Finance, RWA, etc., creating a unified digital finance operational gateway for users. Minara is committed to

The CEO of Tether clarified its support for Bitcoin, stating that despite its gold purchases exceeding those of many Central Banks, it still allocates about 15% of its profits to increase its Bitcoin holdings, demonstrating its global corporate positioning.

Tether has recently doubled its holdings in gold, attracting market attention. Analysts believe this could be a strategic move to lay out a tokenization plan for the gold market, aimed at meeting the rise in demand for the USDT stablecoin and Tether Gold (XAUT). By 2025, Tether's treasury will hold approximately 116 tons of gold, most of which was purchased this year, and its reserve scale can rival that of small central banks like South Korea. According to the Financial Times, Tether purchased 26 tons of gold in the third quarter, surpassing the demand of the central banks of Kazakhstan and Brazil during the same period. Investment bank Jefferies pointed out that, aside from central banks, Tether is the largest holder of gold in the world, with gold reserves "roughly equivalent to smaller central banks such as those of South Korea, Hungary, and Greece."

PANews, November 27 - Due to the impact of the Thanksgiving holiday in the United States (November 27), the US stock and bond markets will be closed today, with an early market close tomorrow (November 28). Today, trading for precious metals and crude oil futures contracts under the CME will end early at 03:30 Beijing time on the 28th, while stock index futures contract trading will end early at 02:00 Beijing time on the 28th. Trading for Brent crude oil futures contracts under the ICE will end early at 02:30 Beijing time on the 28th.

BlockBeats news, on November 27, Tom Lee, Chairman and CEO of BitMine, stated regarding "Tether's purchase of gold last quarter surpassed that of several Central Banks": "Issuers of stablecoins in the cryptocurrency sector are the largest buyers of gold globally and have been the only factor driving prices up since early 2026. This trend will push gold prices higher starting in early 2026, and this situation is by no means Unfavourable Information for Bitcoin; on the contrary, it indicates that Bitcoin prices will also rise in the future."

Deutsche Bank predicts that gold prices will approach $5,000 per ounce in 2026 and break through $5,150 in 2027. Analysts point out that demand for gold purchases by the Central Bank and the return of ETFs will drive gold prices up, despite a previous decline, the prices have now rebounded. Additionally, the fluctuation of gold prices in 2025 reached the highest level since 1980, reflecting market concerns about inflation and global debt.

BlockBeats news, on November 26, according to Bloomberg, S&P Global Ratings has downgraded Tether's USDT stablecoin's ability to maintain its peg to the USD to the lowest rating, warning that a fall in Bitcoin prices could lead to insufficient collateral for the stablecoin. On Wednesday, the rating agency analysts downgraded USDT's stability rating from "restricted" to "weak." S&P stated that this assessment "reflects the increased exposure to high-risk assets in USDT reserves over the past year," which include Bitcoin, gold, secured loans, and corporate bonds, while also taking into account the limited disclosure of information.

Odaily News Jefferies' analysis report shows that the stablecoin issuer Tether currently holds 116 tons of physical gold, making it the "largest gold holder outside of Central Banks," with reserves comparable to those of Central Banks in countries like South Korea, Hungary, and Greece. In the last quarter, Tether's gold purchases accounted for nearly 2% of global gold demand and nearly 12% of Central Bank purchases, and its aggressive acquisition behavior may have affected short-term market supply and investor sentiment. Investors cited by Jefferies believe that Tether plans to acquire another 100 tons of gold by 2025. With an expected profit of $15 billion this year, this goal seems within reach. Additionally, Tether has invested over $300 million in precious metal producers and has issued gold-backed Token Tether Gold.

According to Jin10, as the traditional sales peak season for gold approaches in December, the gold price has firmly stood above $4000 per ounce, increasing the possibility of a new historical high for gold prices. From the East to the West, there will be huge demand for physical gold around the end of the year, as the wedding season in Asia (especially India) coincides with the Christmas and New Year holidays in Europe and America. Central banks in various countries continue to buy gold to build forex reserves, and the influx of funds into gold ETFs also increases the likelihood of gold prices hitting new historical highs. Bart Melek, the head of commodity strategy at TD Securities, stated that the recent possibility of interest rate cuts in the U.S. is an added bonus for those bullish on gold. The recent historical highs for New York gold futures and international spot gold prices were $4398 and $4381, respectively.

Golden Finance reported that data from Jefferies shows that as of September 30, during the two quarters, stablecoin USDT issuer Tether held a total of 116 tons of gold for its customers, equivalent to approximately 14 billion USD at current prices, surpassing the official gold purchase amounts provided by any Central Bank.

Odaily News Due to the impact of the Thanksgiving holiday in the United States (November 27), the data for initial jobless claims in the U.S. will be released earlier tonight at 21:30, the EIA natural gas inventory report will be released earlier tomorrow at 01:00, and the oil drilling data will be released earlier tomorrow at 02:00. On November 27 (tomorrow), the U.S. stock and bond markets will be closed for one day, and the futures trading for gold, silver, and oil contracts will end early. Investors are advised to pay attention. (Jin10)

BlockBeats news, on November 25, Spot gold continues to rebound, currently reported at 4141 USD/ounce, having erased all the fall following the announcement of progress in the Russia-Ukraine situation. Previously, U.S. officials stated that the Ukrainian delegation reached an agreement with the U.S. on the terms of a potential peace protocol, causing gold to weaken in response.

Odaily News After the release of retail sales and PPI data, the US dollar index DXY fell short-term by about 10 points, reporting at 99.92. Spot gold rose short-term by 7 dollars, reporting at 4147.21 USD/oz. (Jin10)

Odaily News The CEO of the Hong Kong Securities and Futures Commission, Ashley Alder, stated that Hong Kong is committed to building a safe and reliable digital asset platform and is finalizing the regulatory framework for digital asset trading and custody services, which will be the last two pieces of the regulatory "puzzle" for establishing a robust digital asset ecosystem. The adoption of tokenized financial products in Hong Kong is on the rise, such as green bonds, money market funds recognized by the Hong Kong Securities and Futures Commission, and retail gold products, with the market size of related tokenized products in Hong Kong being approximately $3 billion. (Aastocks)

Michael Howell pointed out in the podcast that the trend of currency inflation will last for decades, and Bitcoin and gold are effective hedging tools. He advised investors to moderately adjust their Bitcoin holdings and include quality assets in their portfolios to cope with the risks and opportunities brought by long-term debt expansion. At the same time, follow market cycles and fluctuations to optimize returns.

Bank of America predicts that gold prices could reach $5,000 per ounce by 2026, due to factors such as supportive economic policies and tight supply. The average gold price for next year is expected to be $4,538, while also raising forecasts for other metal prices.

Wall Street analysts warn that Bitcoin may experience a big dump of 40% to $50,000 in 2026, with prices expected to fall 60% from historical highs, due to market fluctuations and investor risk aversion stemming from changes in gold and oil prices.

As Fed official John Williams hinted at a possible rate cut in December, market expectations for a Fed rate cut rose to 72%, and gold prices fell to $4052-4065 per ounce. During the Asian trading session on Monday, gold prices fell as traders turned their attention to higher-risk assets, with the market again anticipating that the Fed will cut interest rates in December. Spot gold fell by 0.3%, closing around $4052-4065 per ounce. Meanwhile, "digital gold" Bitcoin finally experienced a rally, briefly rising to $88,000 before giving back some of its gains, currently sitting around $86,000.

PANews, November 24 - The Office of the Special Task Force for Preventing and Combating Illegal Financial Activities in Shenzhen issued a risk alert titled "Beware of the Risks of Illegal Financial Activities in the Gold Trading Sector." It states that recently, with fluctuations in gold prices, some criminals and unscrupulous companies have been engaging in illegal activities under the guise of physical gold trading, such as "gold entrustment," "gold leasing," and "gold investment," which are suspected of illegal fundraising, fraud, gambling, and illegal operations. These activities disrupt the economic and financial order and seriously endanger the safety of public property. We urge the general public to remain vigilant, choose legitimate investment channels, and consciously resist phrases like "capital preservation and guaranteed returns," "gold leasing with high interest," "insider information with no losses," and "low thresholds, low investments, high returns" to avoid falling into traps of illegal financial activities in the gold investment sector.

According to a report by Jinse Finance, a research report from China International Capital Corporation indicates that, unlike the past three years, the current rise in precious metals is primarily driven by the cyclical demand for gold, while the price increase of silver has surpassed that of gold. Looking ahead to 2026, the firm believes that cyclical demand and structural trends are expected to continue driving the upward trend in gold and silver prices. In the benchmark scenario, the firm estimates that the COMEX gold price will rise to $4,500 per ounce by 2026, and the silver price will rise to $55 per ounce, indicating further upward potential compared to the current trend. The firm believes that the cyclical investment demand for precious metals has not yet reached its peak, as the U.S. monetary policy may shift to easing in the short term, and the long-term risk of inflation expectations becoming unanchored may persist. On the other hand, under the new macro order, the unique allocation value of physical gold and the strategic resource attributes of silver will become increasingly prominent, providing structural support for global central banks to buy gold, private physical investments, and regional stockpiling.