Gold to Lose Its Shine as Harry Dent Predicts Massive Crash; Bitcoin to Follow Suit With Low of $3,250
Gold has seen a significant increase in value in 2023, with spot prices rising from $1,823 per ounce to the current price of $1,937 per ounce. However, Harry Dent, founder of HS Dent Investment Management, believes that this trend may not continue in the near future. Dent predicts that gold may lose value to the […]
Data From October Shows Gold Reserves Held by Central Banks Tapped the Highest Level in 47 Years
Following the World Gold Council’s (WGC) third-quarter report that shows central banks purchased a record amount of gold, data released by the WGC shows that central banks are buying more gold during 2022’s fourth quarter. Statistics show that the gold held by the world’s central banks is at the highest level since 1974. Central Banks […]
Central Bank Gold Buys This Year Reach an All-Time Quarterly High in Q3, 400 Tons Purchased Is the ‘Most on Record’
According to the World Gold Council’s (WGC) latest quarterly report, worldwide gold demand, excluding over-the-counter (OTC) markets, was 28% higher year-over-year. While demand jumped higher than last year in the third quarter, central bank gold buying tapped an all-time quarterly record in Q3 2022. The quarterly report indicates that the world’s central banks purchased close […]
Bitcoin’s Rising Correlation With Gold Indicates Investors See It as a Safe-Haven, Says Bank of America Market Strategists
Amid the economic uncertainty affecting a myriad of countries worldwide, Bank of America Securities market strategists explained in a note this week that the leading crypto asset bitcoin has been correlated with the well known precious metal gold. Bank of America analysts Alkesh Shah and Andrew Moss noted “that investors may view bitcoin as a […]
FX Strategists From Citi Say Euro Could Sink to $0.86 if Macro Turmoil Continues
While the euro has found support between 0.96 to 0.97 nominal U.S. dollars per unit, foreign exchange (FX) strategists from Citi believe the euro could tap a low of around $0.86 against the greenback. While the dollar slumped on October 13, the fiat currency is rising again and market strategists from Citi argue that the […]
Euro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU Currencies Are Trapped in a ‘Doom Loop’
On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S. dollar. The drop comes at a time when fiat currencies like the yen, yuan, and pound have struggled against the greenback during the past six […]
Gold and Silver Markets Shudder, Analysts Say Firm Dollar and Rate Hikes May Drag Precious Metal Markets Lower
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 […]
MicroStrategy stock MSTR hits 3-month high after CEO’s exit
Poor earnings coupled with overvalued fundamental metrics pose long-term bearish risks for MSTR.This post was originally published on this site
Bitcoin 'buy' signal excites as dollar, gold extend losses, BTC price heads past $41.5K
Nothing stands in the way of Bitcoin’s latest renaissance, even as gold tumbles and the U.S. dollar checks its progress.This post was originally published on this site
Bitcoin beats owning COIN stock by 20% since Coinbase IPO
Investing directly in Bitcoin turned out to be a better bet than owning Coinbase stock since its IPO. This post was originally published on this site