Business
February 11, 2026
Over the past few days, gold prices have continued to climb, trading around the $5,060–$5,100 range at the time of writing. Analysts point out that this trend is largely driven by a weaker US dollar and economic uncertainty. This is reflected in the latest gold price forecast.
Wells Fargo Investment Institute upgraded its 2026 gold price target to $6,100-$6,300 per ounce on February 4, a sharp 40% increase over its previous targets. Similarly, JPMorgan increased its price target to $6,300 by year’s end. Deutsche Bank, too, has changed its 2026 target to $6,000.
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Grayscale Says Bitcoin Now Tracks Tech Stocks Instead of Gold
In a recent study, Grayscale, a digital currency asset management company, argues that Bitcoin’s value has, of late, been more closely correlated with tech stocks than with gold. The study compares Bitcoin price with a U.S. software stocks index with high EV/sales for the past 12 months. This highlights how the two move closely together.
The study raises serious questions over the Bitcoin digital gold analogy.
It goes on to explain how Bitcoin has the characteristics of both gold and tech stocks. The study suggests that Bitcoin, being decentralized, with a limited supply and complete autonomy, can be considered a store of value like gold. It then argues that Bitcoin is still in the growing phase. In a future dominated by AI and humanoids, the currency will emerge as a valuable commodity, linking it to a growth asset like tech stocks.
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Grayscale’s study, towards the end, suggests that if Bitcoin were to succeed in the long term, it could behave more like gold than a growth stock, with lower volatility and returns.
The study adds a fresh perspective to the Bitcoin vs gold debate. It answers whether the idea of Bitcoin as a safe haven asset will hold in the future.
For now, analysts say that if economic uncertainty increases, gold could rise above key levels, triggering a gold breakout.
