The great decoupling as Bitcoin stalls and gold stocks surge
Gold surged to a fresh record of $5,594.82 per ounce on Jan. 29 before reversing sharply in a dramatic intraday sell-off.

Finance journalist at Grafa with years of experience covering Asia-Pacific financial markets at S&P Global, Mortgage Ezy, and GMA Network.
Gold surged to a fresh record of $5,594.82 per ounce on Jan. 29 before reversing sharply in a dramatic intraday sell-off.
Gentex (NASDAQ:GNTX) reported fourth-quarter earnings on Friday that aligned with analyst expectations, as the automotive electronics leader navigated a choppy global production environment.
IES Holdings (NASDAQ:IESC) reported a 16% jump in fiscal first-quarter revenue, fueled by surging demand for data center infrastructure that helped the company weather a continued slowdown in the residential housing market.
American Express (NYSE:AXP) reported fourth-quarter revenue that surpassed Wall Street expectations, driven by resilient spending from its premium cardmember base.
World Liberty Financial’s dollar-backed stablecoin USD1 has surpassed a $5 billion market capitalisation in under a year, while the TRUMP meme coin has slumped more than 93% from its peak.
Mechanics Bancorp (NASDAQ:MCBH) reported a sharp increase in fourth-quarter profit, capped by the full-period integration of its merger with HomeStreet Bank.
El Salvador’s central bank has added $50 million worth of gold to its reserves, even as the government continued its daily bitcoin purchases under President Nayib Bukele.
Robinhood chief executive Vlad Tenev said the 2021 GameStop trading halt was a wake-up call that exposed flaws in US market infrastructure and strengthened his belief that tokenisation could prevent similar disruptions.
Bitcoin slid sharply on Thursday as a so-called death cross formed on its charts, reinforcing fears that the recent sell-off could extend much further.
Ripple has launched Ripple Treasury, a corporate treasury management service that allows clients to opt into digital asset features without being forced to adopt crypto technology.