The precious metal rallied higher at the mid-week trading session as buyers got assurance from the U.S. Federal Reserve.
Leading financial brands and payments processors are anxiously watching the Fed's push in creating an electronic alternative to cash.
Jerome Powell says cryptos are highly volatile and therefore not really useful stores of value.
Bitcoin at one point lost about $13,000 in value after dropping from its all-time high of $58,330.57 to $45,290.59 within the span of two days.
U.S Treasury Secretary Janet Yellen took sides with CBN, by warning investors and the public of the dangers of owning bitcoin.
The US has moved against the misuse of cryptocurrencies, warning about an explosion of risk associated with digital markets.
Gold futures were up 0.38% at $1,836.80/ounce after hitting the lowest point since December 2 yesterday
At the close of trading at the New York Stock Exchange, the Dow Jones Industrial Average surged by 1.55% to hit a new all-time high.