Bitcoin and gold could hit all-time highs on the same day

Gold hit a fresh record at $2775 earlier today in a series of record highs this year.

Bitcoin may finally be joining the party as it tests the March high of $73,803. The high so far is less than $300 from that level, though it should provide tough resistance.

Bitcoin is up more than 5% on the day as headlines about ETF inflows continue to drive the trend.

In the bigger picture, new highs in both speak to election uncertainty and a desire to avoid the long arm of the US dollar. For bitcoin, the rally may also signal positive risk appetite and/or bets on a bitcoin-friendly Republican administration.

This article was written by Adam Button at www.forexlive.com.