Gold is pricing in global financial distress, while oil prices in recession

quick take

• Further contagion spread to Europe during Friday’s session when the SVB’s decline sent Bitcoin to a low of $19,500.
• Bitcoin is up 25% from its lows and gold is up 5%. These assets may be making the market aware of the global financial crisis, and further impact is unknown.
• Credit Suisse has major headlines, but with rate hikes slated at the moment, we think the contagion could spread further.
• But oil, an indicator of inflation and recession, plunged 15% last month.

Post Gold prices global financial crisis, but recessionary oil prices first appeared on CryptoSlate.