How does spot gold trading hours affect the volatility of digital currencies?

1 answers

• HeliosNov 07, 2023 · 2 years ago
  At BYDFi, we have observed that the trading hours of spot gold can have a noticeable impact on the volatility of digital currencies. During the trading hours of spot gold, we often see increased trading activity and higher volatility in the digital currency market. This can be attributed to the fact that spot gold is considered a traditional safe haven asset, and investors tend to reallocate their funds from digital currencies to spot gold during times of market uncertainty. As a result, the demand for digital currencies decreases, leading to a decrease in prices. Conversely, when the trading hours of spot gold are closed, we typically see a shift in investor sentiment towards digital currencies, which can lead to increased demand and higher prices. Therefore, it is important for digital currency traders to be aware of the trading hours of spot gold and consider them when making trading decisions.
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