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Gold-Backed PAXG Token Spikes to $2.9K Amid Geopolitical Tensions
14.4.2024
Bitcoin traded at a perfect negative correlation to PAXG in a sign of weak demand as a geopolitical hedge, according to one observer
Gold and Silver Weather the Storm as Middle East Unrest Shakes Crypto Markets
14.4.2024
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%...
Costco Gold Business Booming: Estimations Put Monthly Sales Close to $200 Million
12.4.2024
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...
Rate Cuts Could be ‘Out the Window’ After March CPI Data Reveals Stubborn Inflation, Tradestation Exec Says
10.4.2024
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 costs. This acceleration in the inflation rate...
Bitcoin’s “Digital Gold” concept doesn’t generate growth in like Octoblock
9.4.2024
By referencing the Bitcoin ETF, Bitcoin may offer stability and store of value properties like gold but lacks the growth potential that innovative projects like Octoblock present. While Bitcoin has been compared to gold, and many investors see it as a hedge against inflation and economic...
Central Banks Kept Purchasing Gold in February; China Continues Gold Run
8.4.2024
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...
Bitcoin vs Gold: Peter Brandt Asks Peter Schiff to Put Things in Broader Perspective
8.4.2024
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...
Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’
6.4.2024
The Reserve Bank of Zimbabwe has introduced a foreign exchange and gold-backed “structured currency” to replace the struggling local currency. The structured currency banknotes will be “fully convertible into the reserve currency on demand.” The central bank has also reduced...
Bitcoin’s Acceptance as 'Digital Gold' May Spur Demand From New Investors: Coinbase
5.4.2024
Gold has outperformed after the Federal Reserve expressed a cautious stance on the pace of future interest-rate cuts, the report said
Precious Metals Shine: Gold Hits Record High, Silver Sees Substantial Gains
4.4.2024
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...
Markets Tumble as Fed Rate Cut Expectations Diminish
3.4.2024
Attention is riveted on the Federal Reserve’s assembly set for May 1, with widespread anticipation that the U.S. central banking authority might lower the federal funds rate at this juncture of the year. Currently, market forecasts suggest a rate reduction is very unlikely, and Cleveland...
DeFi Protocol Cega's New Options Product Marries Gold, Ether to Offer Up to 83% Yield
2.4.2024
The new offering called "Gold Rush" offers a trifecta of decent return, market exposure and protection from losses
HSBC Launches Tokenized Gold Product Targeting Hong Kong Market
2.4.2024
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...
Convicted UK Woman Found With $4B in BTC, the SEC Seeks $2B Fine From Ripple, and More — Week in Review
31.3.2024
A London woman has been convicted for money laundering, having been found with over $4.3 billion in bitcoin, which she converted into physical assets. The SEC is seeking a nearly $2 billion fine from Ripple Labs in a landmark XRP lawsuit, a move Ripple’s CEO deems unprecedented....
Peter Schiff Warns of Severe Economic Repercussions, Highlights Inflation and Money Supply Concerns
30.3.2024
In a recent analysis, economist Peter Schiff draws stark comparisons between the current U.S. economic optimism and the prelude to the 2008 financial crisis. Schiff, leveraging his expertise, warns of impending financial turmoil, emphasizing the critical role of money supply in understanding...
Silver Left Behind as Gold Claims the Spotlight With Record Price Spike to $2,233 per Ounce
30.3.2024
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 $47.91 on March...
Quadrigacx Co-Founder Compelled to Account for 45-Bar Gold Stash
30.3.2024
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...
Alaska Gold Rush connects with Chainlink BUILD program
29.3.2024
Alaska Gold Rush has connected with the Chainlink BUILD program, which will help advance their project and provide further exposure. Added to that will be the project that will be coming in for better technology. For the uninitiated, Chainlink BUILD is the handiwork of Chainlink Labs, looking...
Securing the Future of Asset Tokenization Requires Industry-Wide Standards: Casper Exec
29.3.2024
HSBC's recent launch of retail gold tokens underscores the growing adoption of financial asset tokenization, a practice that's transitioning from early adoption to mainstream use.
The post Securing the Future of Asset Tokenization Requires Industry-Wide Standards: Casper Exec appeared first...
First Mover Americas: HSBC’s Gold Token Introduced in HK
27.3.2024
The latest price moves in bitcoin (BTC) and crypto markets in context for March 27, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets