Ounce of Gold – DIGIT INFO

Economist Peter Schiff Declares ‘Bitcoin Fad is Over’ as Gold Prices Soar

DIGIT — Fri, 19 Apr 2024 17:16:13 +0000

After the overnight Israeli retaliatory strikes against Iran, gold prices have settled around $2,388 per ounce, having briefly touched the $2,400 mark right after the events. Over the last five days, gold has increased by 1.85%, while bitcoin has declined by 8% since the onset of the conflict last Saturday, April 13. Following last night’s […]

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As Bitcoin Soars, Peter Schiff Offers Gold as the Prudent Alternative

DIGIT — Tue, 12 Mar 2024 19:00:53 +0000

With bitcoin climbing over 50% in the past month, the notable gold aficionado and economist Peter Schiff has thrown shade at the market’s recent rally. Schiff argues that this uptick in value is nothing but “speculative mania” and advises folks to funnel their risky investments into gold instead. Schiff Warns of Speculative Mania in Bitcoin, […]

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Markets Spike After Fed Chair Says It ‘Makes Sense to Moderate the Pace’ of Rate Hikes, Hints Easing Could Happen in December

DIGIT — Wed, 30 Nov 2022 22:00:21 +0000

Equities, precious metals, and cryptocurrencies shined on Wednesday following Federal Reserve chairman Jerome Powell’s speech at the Brookings Institution in Washington. The crypto economy increased 3.11% to $860 billion, while the top four stock indexes jumped between 2% to 5% higher on Nov. 30. Stocks, Crypto, and Precious Metal Markets Jump Higher Against the Greenback […]

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Gold Outshined Bitcoin This Month Climbing 6% Higher Amid US Real Estate Slump, Lower CPI Data

DIGIT — Sat, 19 Nov 2022 18:30:52 +0000

This month, gold has outperformed bitcoin after crypto markets shuddered from the recent FTX collapse, and the precious yellow metal climbed 6.12% since the first of November. The U.S. housing market has shown weaknesses and October’s U.S. inflation rate was lower than expected. Analysts believe these economic trends contributed to pushing gold’s price up by […]

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Bitcoin’s Rising Correlation With Gold Indicates Investors See It as a Safe-Haven, Says Bank of America Market Strategists

DIGIT — Mon, 24 Oct 2022 18:00:50 +0000

Amid the economic uncertainty affecting a myriad of countries worldwide, Bank of America Securities market strategists explained in a note this week that the leading crypto asset bitcoin has been correlated with the well known precious metal gold. Bank of America analysts Alkesh Shah and Andrew Moss noted “that investors may view bitcoin as a […]

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Gold and Silver Prices Slide Lower Following US Jobs Report — Analyst Says Data Suggests ‘Market Bottom Is in Place’

DIGIT — Fri, 07 Oct 2022 20:30:00 +0000

On Friday, October 7, 2022, the precious metals gold and silver dropped in U.S. dollar value following the recent U.S. jobs report for September. The USD value of gold per troy ounce is awfully close to slipping below the $1,700 range, while the price of silver is teetering near the $20 threshold. Precious Metals Price […]

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Gold ‘Clearly Turned Bearish’ Says Societe Generale as TD Securities Strategists Expect Further Downside

DIGIT — Wed, 20 Jul 2022 14:00:55 +0000

According to market analysts, the precious metal gold is officially in a bear market and prices could remain suppressed over the next few weeks. Moreover, while the macroeconomic backdrop has been gloomy, the popular safe haven asset has lost 17.50% in value against the U.S. dollar during the last four months. TD Securities Market Analysts […]

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Uganda Claims Exploration Surveys Discovered 31 Million Metric Tons of Gold

DIGIT — Sat, 18 Jun 2022 16:34:39 +0000

While gold is often considered a scarce asset, Uganda explained on Wednesday that recently conducted exploration surveys indicate that there’s roughly 31 million metric tons of gold ore waiting to be mined in the region. Moreover, a spokesperson from Uganda’s Ministry of Energy and Mineral Development said there’s an estimated 320,158 tonnes of refined gold […]

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Price of Gold Spikes Over $2,060 per Ounce While Risk Assets Continue to Capitulate

DIGIT — Tue, 08 Mar 2022 17:30:28 +0000

On Tuesday, the price of gold soared to new heights as an ounce of the precious metal surpassed $2K per ounce during the early morning trading sessions (EST). Hours later, gold tapped a high of $2,064.27 per ounce as the Russia-Ukraine war and global commodities surge has fueled demand. Gold’s Value Surges Higher Amid Commodities […]

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US Treasury Yield Curve Highlights Recession Signals, Analyst Thinks Fallout Will Be ’10x Worse Than the Great Depression’

DIGIT — Sun, 06 Mar 2022 18:30:54 +0000

Fears of a recession and a 1970s-style stagflation economy continue to grip Wall Street and investors this week, as multiple reports show that recession signals have intensified. With oil and commodity prices surging, Reuters reports that investors are “recalibrating their portfolios for an expected period of high inflation and weaker growth.” While Wall Street Fears […]

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