PMS – DIGIT INFO

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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Silver Rallies 7% Rising Past $20 per Ounce, US Mint Says Fabricators Are ‘Struggling to Keep up With Demand’

DIGIT — Sat, 05 Nov 2022 15:30:33 +0000

On Friday, as the global cryptocurrency market cap jumped 5.4% higher against the greenback, U.S. stocks rallied toward the end of the day with the top four major stock indexes gathering gains. Precious metals also soared as the New York spot price of gold per troy ounce increased by 3.20%, and silver’s price value skyrocketed […]

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UK’s Royal Mint Reveals Record Profits Amid Significant Demand for Physical Gold and Silver

DIGIT — Fri, 14 Oct 2022 16:30:35 +0000

While the price of gold has dropped in value from the asset’s all-time high on March 8, the U.K.’s oldest precious metals (PMs) company, the Royal Mint, saw record profits over the last 12 months. In fact, the Royal Mint’s annual earnings show the firm has seen the highest profits in 12 years, with PMs […]

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TD Securities Analyst Says Gold Sell-off May Not Be Over — Carry and Opportunity Cost Could ‘Drive Capital Away’

DIGIT — Mon, 26 Sep 2022 14:30:34 +0000

Precious metals markets continue to flounder this week as gold’s value per troy ounce has slid by 6.53% in value against the U.S. dollar during the last month, while silver has shed 2.34% in 30 days. Amid the raging inflation worldwide and the hawkish central banks, gold and silver prices have struggled in 2022 and […]

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Crypto, Stocks, PMs Sink Lower — All Eyes on the Fed’s Next Rate Hike as Ethereum’s Merge Hype Wavers

DIGIT — Thu, 15 Sep 2022 17:30:36 +0000

The crypto economy has slipped under the $1 trillion range once again after briefly rising to a high of $1.16 trillion on September 14. Signs show that Ethereum’s Merge hype has seemingly left the building and market participants are now waiting for the upcoming Federal Reserve meeting next week. Presently, the crypto economy is down […]

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Precious Metals, Cryptocurrencies, Stock Markets Falter Following Powell’s Rate Hike Statements

DIGIT — Thu, 27 Jan 2022 09:02:55 +0000

Equities, crypto markets, and precious metals did well during the early morning trading sessions on Wednesday, just before the U.S. central bank wrapped up its Federal Open Market Committee (FOMC) meeting. While the Fed said in a statement that the benchmark interest rate would rise soon, the central bank’s lead Jerome Powell said the committee […]

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Fed’s Minutes Report ‘Bludgeons’ Global Markets — Stocks, Crypto, Precious Metals Slip in Value

DIGIT — Thu, 06 Jan 2022 19:30:21 +0000

Minutes from the U.S. Federal Reserve’s policy meeting on December 14-15 show that the central bank is being persistent about unwinding quantitive easing (QE) tactics and that it views ultra-low interest rates as no longer necessary. Global markets immediately dropped after the news was published as stock markets roiled, crypto markets shed billions, and precious […]

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Swiss Bank Seba Launches Regulated Gold Token, Aims to Bolster ‘Digital Ownership of Physical Gold’

DIGIT — Sat, 18 Dec 2021 21:00:21 +0000

On December 15, FINMA-licensed Swiss bank, Seba, announced the launch of a gold token that can be delivered in physical form, on-demand, at any time from the firm’s partner refineries. Seba believes the token can be leveraged as a compliant stablecoin “backed by responsibly sourced gold.” Swiss Bank Introduces ‘Seba Bank Gold Token’ Backed by […]

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How Henry Ford Envisaged Bitcoin 100 Years Ago — A Unique ‘Energy Currency’ That Could ‘Stop Wars’

DIGIT — Mon, 11 Oct 2021 04:00:50 +0000

55 days from now will be the hundred-year anniversary of when the American industrialist and business magnate Henry Ford talked about a unique “energy currency” that could “stop wars.” The well known founder of the Ford Motor Company suggested that a currency could be backed by energy in kilowatt-hours (kWh) in a similar fashion to […]

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Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum

DIGIT — Thu, 05 Aug 2021 19:45:49 +0000

On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one […]

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