Bill Murphy, a former American professional wide receiver who played one season in 1969 for the New England Patriots, has for decades been a financial…
Posts tagged as “Gold”
The gold and silver market could face logistical challenges as part of the fallout from the coronavirus crisis. Mints, such as the Royal Canadian Mint, have made headlines as they’ve closed. Some have speculated that mine and mint closures due to efforts to slow the spread of COVID-19 could create supply shortages.
James Turk is one of the most recognizable names in sound money. His career started at Chase Manhattan Bank with assignments in Thailand, the Philippines, and Hong Kong. He thereafter became the manager of the Commodity Department of the Abu Dhabi Investment Authority and held various advisory roles in money management.
Silver prices are trading at $17.04, up 0.65% on the day.
That comes on the heels of the U.S. and China announced on Friday that a limited trade deal had been reached.
Yet, silver trails gold in terms of gains in 2019. While gold is almost up 15% in 2019. The 200 EMA is at 17.14, which is below resistance at 17.25. The 50-day EMA is 16.72.
Gold mining exploration in the Black Hills of South Dakota is a signal that the gold miners are becoming increasingly bullish.
According to the Rapid City Journal, five companies are currently drilling for gold in the mountainous region of the black hills from western South Dakota to Wyoming.
DGLD, a network which claims to have over $20m in investment grade gold allocated in Swiss vaults and secured using Bitcoin, launched and is now available for purchase on Blockchain.com’s cryptocurrency exchange, The PIT.
DGLD, which was created by CoinShares, Europe’s largest digital asset manager, and Blockchain.com, and MKS (Switzerland), is a digital asset or token which, at creation, represents 1/10th of a troy ounce of physical gold stored in Swiss vaults for which token holders can swap or physically redeem.
The rich are buying physical gold bullion, coins, and bars, according to Goldman Sachs.
“I think gold’s going to $2,500, $3,000 an ounce in the 2020s because the climate—the landscape for gold is so hugely supportive.” Paul Schatz, Heritage Capital president, told Yahoo Finance’s On The Move. Goldman predicted $1,600 gold by 2020.
Online website ZeroHedge first reported on ‘odd’ exports of gold to Iran from Turkey all the way back in May 2012. Turkey’s trade balance fluctuated wildly as gold stocks flowed out of the country.