The gold standard is a monetary system backed by gold. In other words, each monetary unit’s value is directly linked to a specific quantity of gold. With this system, the coin issuer guarantees that gold supports the banknotes and coins issued. Money-gold equivalence has been the guarantee for the international financial system since the 19th …
What is the gold standard, and how does it work? Read More »
In relation to gold, silver has been undervalued only two times in modern history. Once during the Second World War, and then the early 1990s. For those who think silver will return to average, it’s a great time to buy it. At less than $18 an ounce, silver is not far from the nine-month highs …
Silver at $18 shines brighter for some than gold at $1,800 Read More »
The market is operating defensively on Thursday after the increase in COVID-19 cases. Stock markets are moving lower, but gold fails to translate that into profit because the dollar is also higher. According to the latest update of the COVID-19 cases from Hopkins University, yesterday, 176 new cases of coronavirus were registered worldwide. It set …
Risk Aversion Goes Up, But Gold Falls Thursday on Dollar Strength Read More »
Prices of Gold fell on Wednesday, pressured by the strength of the dollar. Besides, optimism about a possible COVID-19 vaccine and an economic recovery from the pandemic hurt demand for bullion and supported risky assets. The gold prices dropped by 0.7% to the US $ 1,715.27 an ounce. Meanwhile, gold futures in the US fell …
Gold price falls dollar strength hopes for coronavirus vaccine Read More »
The United States is the world’s fourth-largest gold producer, behind China, Australia, and Russia. Its 2019 production exceeded 200 tons, spread across a dozen states. However, the majority of production comes from just five states: Nevada, Alaska, Colorado, California, and Arizona. As they explain from NS Energy, the United States has been mining gold from …
Five states that produce the most gold in the United States Read More »
The price of gold started recovering from the drop experienced last week that led it to test the support set at $ 1,700. A week after protests began in the United States over the murder of George Floyd, the price of gold exceeded $ 1,740. Currently, the US’s cities are undergoing days of extreme agitation: …
George Floyd protests in the US affect the price of gold Read More »
Two thousand dollars an ounce for 2021 is the forecast that the Citi bank has given for the price of gold. Despite the recent pullback in trading, Citi notes that the current circumstances are favorable to rising gold prices. Citi’s commodity analysts stated that the price of gold would reach $ 2,000 in the medium …
Citi estimates gold price to exceed highs at $ 2k by 2021 Read More »
Gold prices saw some gain on Monday. The US has been under pressure these days. Several major US cities became hotspots for civil unrest after George Floyd’s death in police custody. Moreover, tensions between Beijing and Washington are increasing. These factors have boosted demand for gold as a safe-haven metal. Spot gold gained 0.5% to …
Gold demand raises as the dollar weakens on riots in the US Read More »
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