Amid ongoing global tensions, the price of gold remains robust at $2,391 per troy ounce, while bitcoin continues to trade at a 12% deficit from its peak value. Recently, the U.S. House of Representatives approved a series of funding bills for Ukraine, …
Category: Gold
Economist Peter Schiff Declares ‘Bitcoin Fad is Over’ as Gold Prices Soar
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 decli…
Goldman Sachs Raises Gold Price Forecast to $2,700, Acknowledges Rise Not Caused by Usual Macro Factors
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…
Gold and Silver Weather the Storm as Middle East Unrest Shakes Crypto Markets
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 tur…
Costco Gold Business Booming: Estimations Put Monthly Sales Close to $200 Million
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 inve…
Quality Money: Bitcoin to Become Scarcer than Gold Post-Halving
For the first time, the new supply of bitcoin entering the market is set to surpass gold after the 2024 Bitcoin halving. The sixth installment of “10 Steps to Self-Sovereignty” powered by Ledger.
Rate Cuts Could be ‘Out the Window’ After March CPI Data Reveals Stubborn Inflation, Tradestation Exec Says
The U.S. Consumer Price Index (CPI) experienced a higher increase than anticipated in March, climbing by 0.4% over the month to reach 3.5%. The Bureau of Labor Statistics reported that the rise was primarily fueled by increases in shelter and gasoline …
Central Banks Kept Purchasing Gold in February; China Continues Gold Run
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…
Bitcoin vs Gold: Peter Brandt Asks Peter Schiff to Put Things in Broader Perspective
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 an…
Gold Hovers Around All-Time High as Central Bank Actions Drive Up Demand
China and the Fed’s rate cut plans are driving up demand for gold.
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