Given the headwinds facing gold, it’s held up surprisingly well. The bitcoin phenomenon, bullish equity markets, a strong economy and rising interest rates are all traditionally negative for gold. Gold has had a pretty good year, considering. It’s trending higher and I think there is a good chance of it taking another leg up sooner rather than later.
Australian gold miner shares fell after the US Federal Reserve´s meeting yesterday. As predicted, the Fed kept the interest rates on hold at 1%–1.25%.
If gold price breaks through US$1,370 it could indicate the start of a new long term uptrend. And this is why it’s rising. The real story behind gold’s rise — and the biggest financial story you’ve never heard of this year — is the declining US dollar.
I’ve been doing a lot of work on the sector for the past few months. As a contrarian investment idea, oil is intriguing right now. It’s off the radar of most investors, yet it’s more in demand than ever before.
We don’t take this revolution lightly. We think it’s the most significant disruption to global finance there has ever been.
This calm period shows what is possible for the price of gold. Gold can — and usually does — go up in the face of rising interest rates.
Let’s talk gold. Gold, like every other asset, moves around a lot. Sometimes weird things happen that you don’t have a decent explanation for.
The Middle Island Resources Limited [ASX:MDI] share price has climbed 33.33% higher today. Find out why
When it comes to precious metals, most people only think to buy gold. On this particular day, I was after topping up my silver holdings.
Now in the first week of March 2017, one single bitcoin has been consistently trading higher than the spot price of an ounce of physical gold. One bitcoin is now worth US$1,278. On ounce of gold is worth US$1,229.