Egon von Greyerz, a former banker and gold analyst, claims that gold and silver are set for a price rally amidst an upcoming collapse of the U.S. financial system. Von Greyerz states that interest rates will exceed 10% in a hyperinflationary environment, fueled by the issuance of unlimited debt and the loss of trust in […]
While bitcoin mining has become increasingly difficult and block rewards have dropped from 6.25 bitcoins to 3.125 bitcoins, a solo miner discovered block 841,286. Bitcoin’s Harsh Mining Climate Yields Treasure for One Solo Entity Mining bitcoin (BTC) has become significantly challenging, with the network’s difficulty reaching an all-time high of 88.10 trillion. This complexity, coupled […]
After the overnight Israeli retaliatory strikes against Iran, gold prices have settled around $ 2,388 per ounce, having briefly touched the $ 2,400 mark right after the events. Over the last five days, gold has increased by 1.85%, while bitcoin has declined by 8% since the onset of the conflict last Saturday, April …
The World Gold Council, an authority in global gold markets, expects the recent gold price rally to continue, supported by geopolitical risks, steady central bank purchases, and demand for coin and jewelry. The council also sees gold ETFs fueling a future rise in prices given their precious metal’s low ownership levels. World Gold Council Paints […]
Goldman Sachs, a leading investment banking institution, has updated its gold price forecast due to the unforeseen strong performance of the metal in 2024. In a note directed to investors, the bank expects gold to reach $ 2,700 per ounce by year’s end, pushed by non-traditional factors. Goldman Sachs Updates Gold Price Outlook to …
Over the weekend, cryptocurrency assets saw a significant drop, with the crypto economy shedding more than 5% to fall to $ 2.3 trillion, while precious metals also saw declines, albeit less severe than the digital currency sector. Amidst the ongoing turmoil in the Middle East, gold fell by 1.18% in the last day; however, …
According to Wells Fargo estimations, U.S.-based retailer Costco runs a $ 200 million gold business monthly. Consumer trust in the organization and its aggressive pricing have made Costco’s one-ounce bars of 24-karat gold a popular choice for investors, who take advantage of 2% over market spot prices. Costco Might Be Selling $ 200 …
Central banks kept up demand for gold in February, registering net purchases of 19 tonnes. Albeit the purchasing trend continued, purchases fell 58% compared to January’s demand, according to IMF and World Gold Council numbers. China reported the largest gold accumulation, acquiring 12 tonnes to maintain a 16-month gold purchasing streak. Gold Demand Still High […]
Veteran trader and renowned chartist Peter Brandt has urged gold bug Peter Schiff to “put things in a broader perspective” when comparing gold to bitcoin. Schiff ramped up his criticism of the crypto this week as the price of gold rose and bitcoin dipped slightly. “I expect gold’s rise and bitcoin’s fall to accelerate. Don’t […]
The price of gold continues to hit unprecedented highs, with one troy ounce of .999 fine gold now trading at $ 2,298. Silver is also beginning to ride the wave of gold’s recent uptrend, with its value climbing 3.64% on Wednesday surpassing the $ 27 per ounce mark. Gold’s Historic Ascent Continues While …
HSBC, the London-based financial institution, launched the first bank-backed tokenized gold product for its customers in Hong Kong. HSBC Gold Token will allow retail investors to purchase tokenized gold from their smartphones using the bank’s online app, democratizing access to these gold contracts for retail customers and leveraging distributed ledger technology. HSBC Debuts Tokenized Gold […]
This week, the value of gold soared to an unprecedented peak, hitting $ 2,233 per troy ounce as of March 29. In contrast, silver has not exhibited the same level of brilliance, with its value standing at $ 24.97 per troy ounce, a significant 91% decline from its all-time high of $ …
Michael Patryn, co-founder of the now-defunct Quadrigacx cryptocurrency exchange, has been compelled by Canadian officers to explain the origin of his wealth. Patryn must explain how he acquired a stash of 45 gold bars, more than $ 180,000 in cash, and a jewelry set with a diamond-studded Rolex watch. Quadrigacx Cofounder Must Explain 45 …
A recent report from Jan Nieuwenhuijs, an expert in the Chinese gold market, has found that the actual gold reserves held by the People’s Bank of China might comprise over 5,300 tonnes, dwarfing official numbers. Nieuwenhuijs explains China might be a driving force behind increasing gold prices, as the country moves to hoarding gold to […]
According to February 2024’s latest inflation data, Turkey faces an inflation rate exceeding 67%, amid ongoing currency devaluation and a declining lira against the U.S. dollar. Recent findings suggest that in an effort to safeguard their wealth, Turks are increasingly turning to gold, with smuggling hitting unprecedented levels. Additionally, there is a growing interest among […]