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Gold ‘Clearly Turned Bearish’ Says Societe Generale as TD Securities Strategists Expect Further Downside
20.7.2022
According to market analysts, the precious metal gold is officially in a bear market and prices could remain suppressed over the next few weeks. Moreover, while the macroeconomic backdrop has been gloomy, the popular safe haven asset has lost 17.50% in value against the U.S. dollar during the last...
Uganda Claims Exploration Surveys Discovered 31 Million Metric Tons of Gold
18.6.2022
While gold is often considered a scarce asset, Uganda explained on Wednesday that recently conducted exploration surveys indicate that there’s roughly 31 million metric tons of gold ore waiting to be mined in the region. Moreover, a spokesperson from Uganda’s Ministry of Energy...
2 Tokenized Gold Crypto Projects Saw Massive Growth Over the Last 15 Months
6.6.2022
15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG),...
Tokenized Gold Market Caps Grew Significantly Last Month as Fresh Demand Drives Premiums
23.3.2022
While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in...
Price of Gold Spikes Over $2,060 per Ounce While Risk Assets Continue to Capitulate
8.3.2022
On Tuesday, the price of gold soared to new heights as an ounce of the precious metal surpassed $2K per ounce during the early morning trading sessions (EST). Hours later, gold tapped a high of $2,064.27 per ounce as the Russia-Ukraine war and global commodities surge has fueled demand....
Geopolitical Risk and Ukraine Worries Shake Equities, Cryptocurrencies — Gold Soars Higher
24.2.2022
On Wednesday, global markets have been volatile as Ukraine officials declared a state of emergency amid fears of a Russian invasion. Wall Street’s top indexes shuddered during the day’s trading sessions, and cryptocurrency markets slipped more than 4% during the 24 hour period. On...
Demand for Gold-Backed Tokens Brings Premiums as Precious Metal’s Value Jumps Higher
19.2.2022
While stocks and cryptocurrency markets have floundered during the last week, the price of the precious metal gold has increased in value by 3.85% during the last seven days. An ounce of fine gold jumped from $1,826.92 on February 10, to $1,897.36 per ounce on February 19. Additionally, the...
2 Gold-Backed Crypto Asset Market Caps Near $1 Billion, XAUT Jumps 19,000% in 23 Months
25.1.2022
While reserve-backed crypto assets and stablecoin market valuations increased a great deal during the last year, gold-backed cryptocurrencies have also seen their market caps swell. Between the tokens tether gold and pax gold, the market valuations of these two gold cryptos are nearing a billion...
More Than 77 Crypto Projects Claim to Be Backed by Physical Gold
26.1.2020
The last few years have seen the creation of blockchain projects that claim to have tokens backed by physical gold. In October, Coinshares and Blockchain.com launched a digital gold token (DGLD) backed by physical gold that uses BTC’s security. Tether just announced a new token called tether...