Key Takeaways Gold’s remarkable rally hit a significant roadblock this week, as prices of the precious metal suffered their steepest one-day drop in more than a decade. After surging to a record high of $4,381.21 per troy ounce on Monday, the gold price tumbled over 6% on Tuesday to a low of $4,082.03 before stabilizing…
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Tether Gold token (XAUt), a non-volatile gold-backed stablecoin offering accessibility and price stability parallel to gold, is set to be listed on ProBit Global exchange, revolutionizing gold ownership for non-institutional investors by digitizing its value and enabling easy transferability with low fees.
On Wednesday, investment banking giant Goldman Sachs (GS) published a note to its client in which it detailed how Bitcoin could reach a $100,000 price tag and grow past $1.8 trillion market valuation.
After buying a one-ounce Btcioin physical coin with a denomination of 1,000 Bitcoin (BTC) in 2011 for $4,905, the anonymous investor couldn’t possibly have predicted that he would be in possession of the most valuable numismatic item just ten years later.
Grayscale, a leading digital currency investing firm, has announced it hit more than $60 billion in assets under management (AUM), which means that the cryptocurrency investment giant has surpassed the world’s biggest and most liquid gold ETF, SPDR Gold Shares (GLD).
Judging by the market data analyzed by the Ecoinometrics research team, gold is severely underperforming, despite the negative real yields which should in theory push the value of the precious metal upwards considerably. While the inflation rates continue to increase on the tailwind of massive Covid-19 relief-related economic stimulus programs, the price of gold hasn’t increased by as much as one would expect.
Bitcoin was introduced no more than a decade ago, while gold has been in the investment field as far as human history goes. Despite being an ancient go-to commodity gold has been left behind by bitcoin in many aspects. Bitcoin took a boost once again, right with the start of 2021, by hitting a new all-time high of $34,000. Therefore, bitcoin is most likely to outperform gold in investment portfolios throughout the year 2021.
COVID-19 shocked the world in 2020, and governments responded to the pandemic by printing more money. Governments around the world have already deployed stimulus packages, and additional measures are on the way. Now, many experts are worried about the consequences of the quantitative easing policy in the post-pandemic world.