Gold breaks through the new high of 3600 USD "experts say it will pump further", will the collapse of the US unemployment rate and interest rate cuts create a favourable information environment for Bitcoin?

The significant slowdown in the U.S. non-farm payrolls has triggered expectations for interest rate cuts, with gold breaking through $3,600 to hit a new high. Multiple forces in the market have resonated to boost demand for safe-haven assets, which has also led to a cautious sentiment surrounding Bitcoin. (Background: The evolution of the monetary system: from gold to stablecoins) (Supplementary background: Gold, Bitcoin, and Pokémon cards, which is the 'perfect collateral' of this era?) Gold has written a new chapter in history. On September 5, 2025, during the European trading session, the spot gold price officially crossed $3,600 per ounce and briefly surpassed $3,610 during the session, setting a new record. The trigger point was the significantly disappointing U.S. non-farm payroll report in August, deepening market bets on the Federal Reserve's imminent interest rate cuts, thereby significantly increasing the attractiveness of 'zero-interest' asset gold. Non-farm data disappoints, interest rate cut expectations turn sharply. The August non-farm payrolls added only 22,000 jobs, less than a third of market expectations. The unexpectedly weak report led Wall Street to immediately revise its policy path: Bank of America changed its forecast to predict two rate cuts within the year, Standard Chartered bluntly stated that the probability of a 50 basis point cut in September has increased, and Macquarie even brought the first rate cut time forward to October. According to CME FedWatch Tool data, the probability of a 25 basis point cut in September has exceeded 90%, a dramatic increase compared to before the announcement, leading to a dramatic turnaround in market sentiment. Analyst Kyle Rodda from Capital.com commented: "A 50 basis point cut in September is still a low probability, but the direction of expectations has become quite clear." When the Federal Reserve is forced to loosen, and actual interest rates decline, the opportunity cost of holding gold also decreases simultaneously; the weakening dollar further lowers the entry threshold for non-dollar investors. Under this dual effect, gold prices surged rapidly. Speculative funds and central bank buying as dual engines. The interest rate cut story is just the prologue; the flow of funds is the real engine driving the market. CFTC data reveals that non-commercial traders increased their net long positions in gold to approximately 249,530 contracts by the end of August, a weekly increase of 14%, indicating that speculative funds are flooding into the market. Meanwhile, central banks around the world continue to buy quietly, with the People's Bank of China increasing its gold purchases for 10 consecutive months, adding between 19 to 36 tons each month. In the first half of 2025, central banks collectively bought 415 tons of gold, and 95% of central banks indicated they would continue to replenish inventory in the coming year, building a solid bottom for gold prices. Market observation: Is Bitcoin next to follow? Against the backdrop of global trade tensions, geopolitical conflicts, and the lingering shadow of inflation, gold's role as a 'safe haven' has once again come to the fore. Expectations of interest rate cuts have pushed down bond yields, the weakening dollar has increased the attractiveness of dollar-denominated commodities, and safe-haven demand provides long-term support, with three forces simultaneously boosting gold prices. Analysts generally remain optimistic about the sustainability of the bull run, with calls increasing to challenge $3,700 by the end of the year and $4,000 by mid-2026. However, the key variable remains with the Federal Reserve: if employment or inflation warms up later, the pace of interest rate cuts may be delayed again, leading to short-term volatility in gold prices. Investors need to closely monitor meeting minutes, official statements, and core data to assess the real progress of policy shifts. Based on past experience, after gold breaks new highs, Bitcoin is often expected to receive a 'secondary safe-haven' capital shift within a few months. Therefore, whether future interest rate cuts and the sentiment for safe-haven assets will drive Bitcoin prices up in the coming months is also one of the focal points for ongoing observation. Related reports Gold sets a historic new high of $3,500, is Bitcoin next? Tether plans to engage in 'real mining' by investing in gold mining, currently holding $8.7 billion in gold reserves. Gold prices are expected to surge to $3,900, summarizing five major gold tokens. <Gold breaks through the $3,600 new high, "experts say it will rise further," U.S. unemployment rate collapses, interest rate cut safe-haven sentiment favours Bitcoin?> This article was first published in BlockTempo, the most influential blockchain news media.