Gold vs. Bitcoin: Metals Are Melting, Tom Lee Predicts an AI Rebound

On Thursday, gold and silver lost an estimated $1 trillion in combined market value amid a metals selloff, with silver down 5.8% and gold down 2.8%; CompaniesMarketCap estimates put gold’s lost value at $810 billion and silver’s at more than $190 billion. Fundstrat’s Tom Lee said the AI and technology selloff is nearing its end and argued that a recovery in tech stocks could help Bitcoin by improving risk appetite. Rising oil prices have renewed inflation concerns ahead of the Federal Reserve’s Oct. 27–28 meeting, potentially limiting rate cuts. Bitcoin fell about 2.3% over the month ending Oct. 22, compared with a 5.5% drop for gold.