Gold Spikes on US Debt Fears — Finance Portal Disowns End-of-Year Gold Price ...
While the price of bitcoin has surged during the first few days of October, the price of the precious metal gold has also increased percentage-wise as the U.S. dollar and the country’s 10-year Treasury yields slid in value this past week. An ounce of fine gold exchanged hands this weekend for $1,760 per unit, up 1.32% since September 29. Gold Spikes More Than 1% This Past Week, Metal’s Rise Attributed to a Soft Dollar, US Default Fears, the Fed’s Upcoming QE and Benchmark Rate Decisions After the end of September, like clockwork, bitcoin (BTC) and the....
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On Tuesday, the price of gold soared to new heights as an ounce of the precious metal surpassed $2K per ounce during the early morning trading sessions (EST). Hours later, gold tapped a high of $2,064.27 per ounce as the Russia-Ukraine war and global commodities surge has fueled demand.
Gold’s Value Surges Higher Amid Commodities Boom
Gold is exchanging hands for prices not seen since August 2020, as the Russia-Ukraine war has caused a significant demand for barrels of oil, commodities, energy stocks, and precious metals. During the last 24 hours, an ounce of .999 fine....
Last year, the Winklevoss twins predicted that Bitcoin is set to become Gold 2.0, right now it's starting to look as if they might well be right. Every day, according to estimates, around £220bn of gold changes hands in London. The gold price has been set since 1919 by the London Gold Fix. but, of late, the gold fix mechanism has been somewhat losing its luster. There have been growing concerns that the London Gold Market Fixing Limited, which is owned by Barclays, HSBC, Société Générale and Scotiabank, may have been manipulating, or at the very least allowing the gold price to be....
After a long break, monthly purchasing data shows that central banks are buying gold again. The World Gold Council says throughout March and April, the organization recorded a higher level of central bank monthly gold purchases and the latest data from May shows the exact same trend. Gold Rises After Data Shows Central Bank Gold Purchases Trend Higher The price of gold per ounce is hovering just above the $1,800 zone, after seeing some fresh gains following the weekend. Gold’s value jumped above its 100-day moving average and is changing hands for the highest price in two weeks. In....
Bitcoin is not a gold standard as it is independent, without the intervention of any central bank or government agency. There has been a lot of comparison between bitcoin and gold in the recent times. Bitcoin has been compared to gold in many aspects. In fact, bitcoin is also called digital gold for a reason due to various similarities it shares with the yellow material. However, referring to bitcoin as a gold standard may not be relevant. The gold standard is a reference to the monetary system that was based on the value of gold. While most countries stopped following the gold standard....
For the first time in history, gold has taken a backseat to Bitcoin during a financial crisis. Currently, Greece is in economic turmoil; banks have closed, ATMs are inoperable, and credit cards have been shut off. Greek Finance Minister Yanis Varoufakis stepped down on July 6, as his country voted “nay” to demands from an international lenders....