Gold prices hit an all-time high Monday as President Donald Trump's tariff threat sent risk-on markets lower, driving demand for the safe haven asset.

What happened: Spot gold rose to $2,956 per ounce early morning before dipping to $2,937.67 as of this writing. Gold futures on the Commodity Exchange also climbed to an intraday high of 2,970.39 before settling at $2.952.

The yellow metal has gained 12.3% year-to-date and roughly 44% over the last 12 months. 

Gold's rise contrasted with that of Bitcoin BTC/USD, often dubbed the "digital gold" by its advocates, as the apex cryptocurrency slid 4.48% in the last 24 hours. Blue-chip stock indexes like the Nasdaq Composite and the S&P 500 also closed Monday's trading session in the red.

Meanwhile, Pax Gold PAXG/USD, a cryptocurrency backed by physical gold, was among the market’s biggest gainers in the last 24 hours.

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Why It Matters: Peter Schiff, a renowned gold bug and Bitcoin critic, highlighted how SPDR Gold Trust ETF GLD, the world's largest gold exchange-traded fund, has risen 12.42% year-to-date, while Bitcoin-tied ETFs have struggled. 

"Instead of 2025 beginning a golden age for Bitcoin, it looks like it will just be a golden age," Schiff threw a jibe.

While Bitcoin has certainly struggled this year, it has surpassed gold in terms of annual returns, rising more than 76% vs. the bullion metal's 44% returns.

On a larger time frame, the gulf becomes wider. Bitcoin has gained a whopping 35,807% in the last 10 years, compared to 142% return on gold investment.

Price Action: At the time of writing, Bitcoin was exchanging hands at $$90,562.19, down 4.48% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, it has lost 3.03% of its value.

Image Via Shutterstock

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