Is Bitcoin the New Gold in the Financial Markets?
Gold prices have been steadily tumbling in the past few weeks, more so recently after the Chinese reserves data revealed a smaller than expected portion of gold reserves. Gold has been treated as a hedge against inflation, typically gaining in value also when investors are seeking lower-yielding returns from safe-havens. This time around, even with all the monetary policy easing going on among central banks and the prospect of another downturn in inflation, gold prices have failed to rally. Some financial market experts say that gold prices might not see much upside anytime soon since....
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The United Kingdom-based gold dealer, Ash Kundra, has claimed that he recently ran out of gold coins and bars after the demand for the precious metal skyrocketed. The pound’s plunge to a record low versus the dollar, as well as the turmoil in financial markets, is said to be the cause of the sudden increase in demand for the precious metal.
Demand for Gold ‘Increased Exponentially’
A United Kingdom-based gold dealer, Ash Kundra, has revealed that he repeatedly ran out of gold coins and bars in the days that followed the United Kingdom treasury chief Kwasi....
The Brexit is a doom scenario for traditional finance all over the world. As stock markets continue to lose ground, and the Pound Sterling devalues, there is an increased interest in gold and silver. Bitcoin, that other scarce store of value, is doing quite well too. While the majority of investors around the world thought the Brexit vote would result in....
Is owning digitized gold a better option than physical gold? Comtech Gold tokenizes the metal making it more liquid and secure. The take-off of digital gold has the potential to disrupt the industry to an unprecedented degree. Historically, gold has been used as a global currency as a hedge against inflation. It has also been serving as an investment venue (commodities), often preferred over other asset classes like equities or foreign exchange, particularly in conventional markets. However, there are certain disadvantages to owning physical gold, such as inconvenience in transport and....
Precious metal markets have shuddered during the last few weeks, as gold’s price per ounce nears a six-week low hovering just under $1,700 per unit. Silver crashed through the $18 range slipping to $17.80 per ounce. While both gold and silver dipped between 0.85% to 0.89% against the U.S. dollar in 24 hours, platinum dropped 2.82% and palladium shed 4.18% against the USD during the last day.
Despite Scorching Global Inflation, Gold Hasn’t Been a Safe Haven in 2022
While the entire world is suffering from red-hot inflation, many would assume that the world’s....
While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. The two contemporary safe havens during the times of economic crisis are the representatives of tradition and technology. While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. And seems it is truly a digital age, as proved by recent bitcoin high over gold. The world is increasingly turning to bitcoin as a safe haven. Nonetheless, the demand for gold invariably....