Tag Archives: Gold

(Bloomberg) — Gold slipped after finishing strongly last week, with UBS Group AG warning investors to rethink their bullion holdings as the global economy recovers and the greenback strengthens into next year. Bullion had been clawing back some ground over the past week after better-than-expected U.S. jobs data sent prices tumbling on bets the Federal Reserve may start paring back massive monetary stimulus soon. This week, investors will parse through a speech by Chair Jerome Powell, as well… Source link

Asset bubbles may now be too big to burst, creating a situation that Central Banks around the world might be unable to control. If it all comes crashing down, we think there’s only one place to be … Gold. The precious metal could rise as high as $3,000 to $5,000 per ounce in the next 3-5 years. That’s according to the same fund manager who predicted the 2016 gold rally. As cited by Bloomberg, Diego Parrilla, manager of the $250-million Quadriga Igneo fund that called the last gold rally,… Source link

In light of gold’s (GC=F) flash crash on Monday, with the commodity dropping to its lowest price since March at $1,730.13 an ounce in New York by late afternoon, some investors may be growing wary about its efficacy as an inflation hedge in the near term. According to J.C. Parets, Allstarcharts.com founder and chief strategist, gold has become one of the worst investments over the past year. “Nobody wants your rocks, right? I mean, that’s the theme … the gold bugs have come up with… Source link

(Bloomberg) — Gold extended its slump, and silver tumbled, after a stronger-than-expected U.S. jobs report fueled bets that the Federal Reserve may start paring back its massive monetary stimulus soon. Spot bullion fell more than 4% and silver slumped as much as 7% as the selloff following Friday’s employment figures initially accelerated at the start of Asian trading. Dallas Fed President Robert Kaplan said the central bank should start tapering its asset purchases sooner rather than… Source link

Soon after bitcoin (BTC-USD) startled investors with a rare drop below $30,000 last week, the cryptocurrency has rebounded dramatically in recent days, rising well above $40,000.  The sudden bounce back has cheered bitcoin bulls but also underscored a concern among critics that the volatility of the most popular cryptocurrency makes it useless for the buying and selling of goods.  Pavan Sukhdev, the president of environmental advocacy group WWF International and a former managing director at… Source link

(Bloomberg) — Gold will surge to fresh highs in the next year, but investors seeking currency alternatives as global debt balloons should look to Bitcoin, according to a $7.5 billion hedge fund. Both are likely to rally even as the Federal Reserve moves to taper asset purchases, said Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital. The two are frequently compared by investors, with former Treasury Secretary Lawrence Summers saying cryptocurrencies… Source link

Bitcoin’s strongest narrative is “digital gold.” Investors buy it not out of an expectation that it will behave like gold behaves in the market today, but that it will some day take on the historic importance that gold has held across cultures and ages. My colleague George Kaloudis recently reminded me that there’s one important aspect in which bitcoin will never be like gold: In a vault or in the ground, gold will always be gold; bitcoin, however, is a technology, and a technology… Source link

Bloomberg ‘A Preventable Mess’: How Dementia Takes Toll on Aging Lawyers (Bloomberg) — Robert Fritzshall had to be pushing 80, Bethany McLean thought, so she was a little surprised to hear him talk about expanding his law practice.His office was a bit dusty and cluttered with papers. There were files on the floor. She was concerned that he didn’t see the need to carry malpractice insurance. But she doesn’t remember anything being a red flag.“He was charismatic, enthusiastic,” she… Source link

Bloomberg As Sanjeev Gupta Rose From Trader to Tycoon, Several Banks Backed Away (Bloomberg) — British industrialist Sanjeev Gupta’s companies seemed to be prospering until his main lender, Greensill Capital, imploded last month. But long before Greensill collapsed, several banks had cut off the commodity trading business of Gupta’s Liberty House Group.Four banks stopped working with Gupta’s commodity trading business, starting in 2016, after they became concerned about what they… Source link

Bitcoin might become for India’s millennials what gold is for their parents, no matter what the government says.  India, the fifth-largest nation by nominal GDP, often makes headlines for its attempts to outlaw crypto, real or rumored. But the government’s less-than-friendly attitude toward crypto has not curbed Indians’ curiosity about it. Nor do rumors scare away the giants of the crypto world. Just last week, Coinbase announced it is planning to establish its presence in India…. Source link