Bitcoin Is A Few Bucks Away From Gold

The price of Bitcoin is now within a stone’s throw of the price of gold.

The digital currency already set a record earlier today on the Mt. Gox exchange, touching $US1,242 (it’s since come back down to $US1,162).

Meanwhile, gold is at $US1,250 an ounce.

At this point, the unending surge in Bitcoin prices appears to be riding a wave of speculative momentum. The price of a March Bitcoin future on Swedish-based ICBIT.se (though on admittedly thin volume) is more than $US1,700.

Here’s a helpful chart, from Bespoke Investment Group:

We’ll update this as soon as the cross actually occurs.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.