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Gold’s recent run up to a 4 ½ month high on Wednesday was due partly due to markets taking a hard look cryptocurrencies, said Kitco’s senior market analyst, Jim Wyckoff on Thursday afternoon.
On Thursday June gold futures tracked down by $7.80 to $1,893.40 after breaking through $1,900 level mid-week. Bitcoin is down around 40% after hitting a high above $65,000 in mid-April.
Wyckoff said cryptocurrency has been around thousands of years while bitcoin is just over a decade old, and it was a “… silly thought in the first place that gold would be replaced as a safe haven asset.”
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Why Invest in Gold? Is Your Wealth Safe?
If you are reading this article, then you are probably wondering just that. Is your hard earned money safe in this economic environment and what can steps can you take to secure your wealth? Investing in gold is and has always been the smart decision in times of economic turmoil.
Gold Coin Collections – An Appealing InvestmentAre you looking for a great life long investment? Consider gold coins! Even though the coins themselves are rather expensive to buy initially, the purchase will be a great investment in the long run. Gold is traded in every worldwide market daily, making it rather easy to keep track of the current price.
Today’s Gold Prices and the Condition of the Current MarketThese days, everybody has different theories on investing. In fact, you’ll find as many theories as you will investors. One guy is telling you invest in gold, the other in silver… how do you know how to trust?
Investing in Gold Coins – Not Exactly Rocket ScienceIf you’re new to investing in gold coins, then you’re probably wondering: Why didn’t finish ITT Tech? Ho, just kidding! Seriously though, if you want to buy gold coins, you need to know which ones to buy. In other words, you need to know what the criteria are for determining the value of gold coins.
Gold Stocks ETFIf you like gold stocks in this market, chances are you’ll like a gold stocks ETF even more. Precious metal companies have really enjoyed a bull market that has resulted from record level gold prices. But just as gold shares can shoot up when times are good, they can fall just as easily when the gold market experiences adverse conditions or even if the company itself has management problems.
Why Does Silver Coin Investing Make Sense For You?Unless you been living under a rock its pretty obvious that gold and silver are hot hot hot. Recently I started buying some silver in an effort to hedge myself against the depreciating dollar. There was one problem i saw with this. Silver fluctuates with the market, that’s okay for some but i wanted something even safer.
Buy Gold Coins – Here’s WhyThe economy is showing signs of improvement but at what cost? Many experts think that we are heading for a period of high inflation. This is causing many people to seek investments to hedge against inflation; like buying gold coins.
Are Commemorative Gold Coins a Stable Investment?If you know anything about collecting coins, you know that commemorative gold coins are among the most popular designs. They remind people of the past, hence the term “commemorative.”
Why Have the Prices of Gold Gone So High?Gold has always been an important metal with concern to both economy and for various other uses as well. It is a malleable and ductile metal that is a good conductor of electricity. Gold is used to make jewellery and can be woven into fine thread. It holds immense importance because the price of gold is very stable in the international economy.
Which Gold Coins Are Most Collectible?Since the invention of coinage, gold-coins are being used as a currency and investment. A coin made purely or chiefly of gold is a gold-coin. Gold-coin is a very practical mode of currency because of the reason that it has intrinsic value.
