Summary
- Gold and silver prices fell together, while volatility indicators in the digital-asset market rose, signaling expanding risk.
- The Bitcoin Volatility Index BVIX rose 1.20%% to 48.03, while the Ethereum Volatility Index EVIX gained 0.43%% to 68.36.
- Analysis suggests the digital-asset market is entering a phase of rising volatility as moves across asset classes diverge amid geopolitical tensions in the Middle East and higher energy prices.
Forecast Trend Report by Period
Gold and silver prices fell, while volatility gauges in the digital-asset market climbed, signaling rising risk. With moves diverging across asset classes, attention is turning to the possibility of a more volatile trading environment.
Crypto-focused media outlet Odaily reported that as of 10:38 p.m. on July 7, gold traded at $4,646.39 an ounce, down 0.09%, while silver fell 1.33% to $71.808 an ounce.
Crypto volatility, by contrast, increased. The Bitcoin Volatility Index, or BVIX, rose 1.20% to 48.03, while the Ethereum Volatility Index, or EVIX, gained 0.43% to 68.36.
In foreign-exchange markets, major currencies were mixed against the dollar. USD/CNH fell 0.13% to 6.86497, while USD/JPY rose 0.09% to 159.827.
Global equities were weaker. The Euro Stoxx 50 fell 0.65% to 5,663.60, the U.K.'s FTSE 100 dropped 0.61% to 10,388.04, and Germany's DAX 40 declined 0.58% to 23,074.58.
Oil prices, however, moved higher. West Texas Intermediate crude rose 2.88% to $116.09 a barrel, while Brent gained 0.71% to $113.39.
Markets are showing a split across asset classes as geopolitical tensions in the Middle East combine with higher energy prices. In digital assets, that has fueled views that the market is entering a period of expanding volatility.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
