Gold news

Gold price is trading slightly higher today after recording a 2.8% drop yesterday following Russia’s central bank announcement that it has halted bullion purchases amid the coronavirus outbreak. Fundamental analysis: Russia pulls the plug Russia’s central bank announced it will stop buying gold from local markets to allow space for gold exporters to sell commodities in international markets. “Further decisions on gold purchases will depend...

Delta Exchange seems to be using a new approach to attracting traders, and this time, it appears to be specifically targeting gold bugs. In the new move, the exchange announced the launch of Tether Gold (XAUt) Perpetual Contracts, accompanied by 20x leverage, against USDT. The new trading product will let traders hedge against the market risk, simply by letting them buy Tether Gold futures with leverage. The futures themselves are quite new on th...

For the second day in a row, gold prices hit a new 7-year high of $1,619 on increasing demand for precious metals. The price action is now approaching the first short-term target for the bulls at $1,626. City analysts believe that this move has legs as they predict a trip towards $2,000 . Fundamental analysis: Increased worries about the global economic impact of the coronavirus It appears that negative headlines and consequences from the coronav...

China’s coronavirus has continued to spread around Asia and the Middle East as the global economy starts to suffer as well. As a result, investors are pulling out from the high-yielding assets and transferring funds to safe-haven assets, such as gold.  Fundamental analysis: Coronavirus rings alarm bells Gold spot price is currently trading unchanged on the week after the asset gained nearly 1% more in value last week. The spreading of...

Gold is among the few commodities whose prices were soaring as concerns over the Coronavirus Outbreak swept through the markets. As of this morning, the yellow metal was up about 20% higher than last year, as it trades close to $1,600 an ounce. A couple of other precious metals have rallied too, including silver and platinum. Meanwhile, Dow Jones is up 0.66% or 187 points. Investors have been playing around with the idea of gold touching the $2,0...

Everyone in the crypto community has heard Bitcoin’s alternative name of ‘digital gold.’ However, it is worth noting that there are nearly 80 other projects that are active right now, that are backed by actual physical gold. More and more crypto projects continue to emerge with claims that their assets are backed by physical gold. According to recent data, there are around 77 active projects backed by gold right now, while aroun...

Cryptocurrency company Tether, known for its stablecoin going by the same name — Tether (USDT) — has recently announced plans to launch a new digital currency that would be backed by gold. The new coin, known as Tether Gold (XAUt), supposedly keeps its physical gold stored somewhere in a Swiss vault. With that said, Tether is known for the lack of transparency, which has sparked a number of controversies over the years. Many have theo...

The idea of investing in commodities might sound rather daunting. Perhaps you think that you would need to be an expert to do this well. This isn’t true, as anyone can invest in the likes oil, gas, corn and copper. Gold has traditionally been the most widely-chosen commodity among investors. Let’s take a look at why this precious metal could be your secret to a great investment this year. Why Gold Is the Most Popular Commodity This is...

The price of gold has fallen as the dollar rises. But, World Gold Council chairman says it could rise in the next 12 months to $1,400 an ounce on geo-political concerns and rising consumer demand from India and China.