As I am writing,
Gold price crossed the $1,400 an ounce mark in 5 years and Bitcoin crossed the psychological $11,000 mark per coin.
The increase in Gold price is likely to due to several factors mentioned below, but often related to uncertainty and low interest rate. If economy is good and looking good, with rising interest rate environment, then Gold price will fall. Vice versa.
– increasing tensions in the Middle-East primarily reflected by the attacks of two tankers in the Gulf.
– global uncertainties from US-China trade wars.
– USD weakened while its 10 year yields dropped below 2% is another factor.
– countries like China, India, Russia, Kazakhstan, Poland and Hungary accumulating gold.
I am holding on to Gold and Silver as my biggest portfolio. They are not for yield, but just a hedge.
If economy is good, G & S price dropped, but I am not worry because then, business will be good, everyone will be optimistic and jobless rate will be low.
The rise in Gold price pales when compares to the price of Bitcoin. Price of BTC rose from US$4k in Jan to now US$11k, almost 3x!
Why is it rising so fast…. I do not know.
I heard someone saying, Gold is God’s money, Crypto is People’s money and Currency is Fiat money. Maybe this is the reason!
29 thoughts on “Why is Gold and Crypto rising?”
Was trying to ask you where you bought your bitcoin. After going through some of your articles, I think its coinhako. Thanks alot man, preparing for the next bitcoin fallout, if it comes, else just sit and cry. 😉
Dear Arthur, thanks for dropping by. Yes, its coinhako. So far the service response via email is very prompt and good. I have no complains for the platform.
And if you wanted a bigger deposit or withdrawal, you also need to set up XFers and linked it with your Coinhako.
Took me quite awhile to get everything correct, considering I am quite an IT-dumb! Guess, its also because of its 2019 1st week when I set up my Coinhako, and I wanted to learn something different in the brand next year, so I did it. And yes, the effort paid off.
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