Gold Futures Break $4,200 as Crypto Outflows Hit Record Levels
Gold hit a new record high Tuesday, while billions exited major crypto exchanges.
Futures briefly crossed $4,200 per ounce before closing at $4,197.6 in New York trading Tuesday, according to data from CME Group. Trade publication The Kobeissi Letter characterized the turn as “the first time in history” that gold has crossed the mark, noting that the asset is up nearly 60% in 2025 alone.
The move came as CoinGlass data showed over $21 billion in outflows from Binance and continued withdrawals across other top exchanges, less than a week after crypto markets crashed in what’s now dubbed as the latest “Black Friday” that saw Bitcoin and other digital assets pare down in price as crypto ETF flows reversed, following…
