Gold slides from June highs as bitcoin posts biggest jump since February

Gold slipped Thursday after climbing above $4,500, while cryptocurrencies surged, with bitcoin posting its best day since February.

Spot gold slipped 0.8% to $4,487 per ounce by 7:20 a.m. GMT, as investors booked profits after prices climbed to a more‑than‑two‑month peak following a more than 4% advance on Wednesday.

That rally came after a surprise U.S. Treasury liquidity‑support announcement for long‑duration bonds, which weakened the dollar and pushed Treasury yields down from their 2007 highs.

Bitcoin surged over 8% to $69,870 in the last 24 hours after U.S. President Donald Trump urged Congress to pass a bill expected to boost the sector, triggering a massive liquidation among short positions of over $2.7 billion, according to Bloomberg.

Silver, platinum follow gold lower

Stocks kicked off the session higher in Asia, with Japan's Nikkei 225 and South Korea's Kospi jumping by 1.4% and 5.9%, respectively. China's Shanghai Composite and Hong Kong's Hang Seng also climbed, adding 0.2% and 1%, respectively.

After the open, the Stoxx Europe 600 benchmark remained flat, France's CAC 40 held steady, Germany's DAX 30 edged up 0.2%, the UK's FTSE 100 stayed unchanged, and Spain's IBEX 35 lost 0.1%.