Traders flood into crypto, gold as Trump bets surge

Bitcoin has surged more than 8 per cent over the past two sessions to as high as $US73,564 ($111,974) on Tuesday in New York (Wednesday AEDT), just shy of March's all-time peak of $US73,798.

Traders are positioning themselves for a Donald Trump victory in the upcoming US election, sparking a surge into bitcoin and gold, which are expected to benefit from ballooning deficits and geopolitical tensions under the Republican candidate.

Bitcoin has surged more than 8 per cent over the past two sessions, reaching a high of $US73,564 ($111,974) on Tuesday in New York (Wednesday AEDT), just shy of March’s all-time peak of $US73,798. Meanwhile, gold hit a fresh record of $US2775.47 an ounce in Asia trading on Wednesday, surpassing its previous high set on Tuesday.

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