‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spik...
Precious metals (PM) markets have been trading a bit higher in recent days, while cryptocurrency markets have been seeing gains as well. Spot gold prices have jumped to $1,805 per ounce, up more than 1.3% during the last 24 hours, while silver prices have increased by 2.5%. As PMs have gathered strength this week, crypto-asset markets are still inching closer toward gold’s and silver’s market valuations. In fact, bitcoin’s market capitalization is just below silver’s $1.47 trillion market. Precious Metals Rise, But Investors See Digital Gold Eclipsing These Markets....
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Bitcoin was designed to share several key similarities with gold, but the end result was an all-digital asset that does what the precious metal does best even better and then some. Eventually, the first-ever cryptocurrency could share a similar-sized market cap as the precious metal has currently, and one of the crypto community’s best chartists […]
The precious metals refined on the site will be tokenized and traded on the DMCC Gold Exchange platform. Dubai Multi Commodities Centre — a free trade zone established by the Dubai Government — has signed a sale and purchase agreement with REIT Development to construct a 100,000 square foot precious metals refinery.According to a DMCC release on Wednesday, the precious metal refinery and storage facility will be the largest in the Gulf Cooperation Council and will reportedly be powered by blockchain technology.Located in the high brow Jumeirah Lake Towers area, the facility will refine and....
Gold investors are getting anxious, as the precious metal’s prices have slid a great deal since a number of vaccine companies have revealed medicines to combat the coronavirus. The price of one ounce of fine gold is valued at $1,770 per unit after the precious metal registered the third straight weekly loss in a row. Moreover, last week gold saw the largest weekly outflow ever, as investors seem to be selling the safe-haven asset in great numbers. Gold (Au) prices per ounce continue to spiral lower in value, as the price of the precious metal is down more than 14.5% since the....
While stocks and cryptocurrency markets have floundered during the last week, the price of the precious metal gold has increased in value by 3.85% during the last seven days. An ounce of fine gold jumped from $1,826.92 on February 10, to $1,897.36 per ounce on February 19. Additionally, the top gold-backed crypto coins today have seen a significant increase in demand alongside premiums above the spot market price of gold.
Gold Shines During Economic Uncertainty
The world’s economy has been shaky and many are blaming the turmoil between Russia and Ukraine, and the....
Bitcoin trades north of the $40,000 price mark with bullish momentum in the last 24 hours. Today, the U.S. Federal Reserve (FED) is expected to begin its monetary tightening policy. Related Reading | TA: Bitcoin Breaks $40K, Key Upside Break Suggests Trend Change The financial institution could raise interest rates hikes, and slowly pull liquidity from global markets. Bitcoin and risk-on assets, such as equities, are expected to turn bearish. So far, BTC’s price has failed to meet expectations. At the time of writing, Bitcoin trades at $40,416 with a 4% profit on the last day. Bitcoin....