When Gold Meets Crypto: Are Crypto Traders Taking Over Gold’s Price? - TradingKey

The article explores whether crypto-market participants/structure are influencing gold price behavior, implying potential cross-asset flow linkage and changing intraday microstructure. If gold is increasingly traded as a risk-on/risk-off proxy alongside crypto (or via shared levered participants), correlation regimes and volatility transmission could shift. Desk angle: watch BTC volatility spikes and stablecoin liquidity as possible leading indicators for short-horizon gold flows, especially in overnight sessions. Treat as a supplemental signal rather than a primary driver versus USD/real yields.