News

Commodity Strategist Mike McGlone Predicts a Recession as Top Catalyst for Gold’s Rise Above $2,000

Coins Legend February 24, 2023 0

This week, Bloomberg Intelligence Senior Macro Strategist Mike McGlone shared his March outlook and noted that the “top catalyst” that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an update about bitcoin and the Nasdaq that a key ingredient to

Finance

The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink

Coins Legend August 3, 2022 0

Several reports detail that U.S. Federal Reserve officials are resolute on tightening monetary policy and increasing the federal funds rate until inflation in America is alleviated. Chicago Fed president Charles Evans explained on Tuesday that the central bank would likely keep up the larger than usual rate hikes until inflation is remedied. The Fed Is […]

Market updates

Gold ‘Clearly Turned Bearish’ Says Societe Generale as TD Securities Strategists Expect Further Downside

Coins Legend July 20, 2022 0

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 four months. TD Securities Market Analysts […]

News

Zimbabwe Central Bank: Gold Coin Sales to Commence in Late July

Coins Legend July 7, 2022 0

Starting on July 25, the Zimbabwean public will be able to buy and hold gold coins which weigh one troy ounce each. In addition to their use as an alternative store of value, the central bank says the coins can be traded and used as “security for loans and credit facilities.” Coins to Be Sold […]

Finance

India Hikes Duty on Imported Gold, Seeking to Bring Down Trade Deficit

Coins Legend July 6, 2022 0

In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are fears the import duty hike will spur a resurgence in the smuggling of the commodity. India’s Worsening Trade Deficit Faced […]

News

Uganda Claims Exploration Surveys Discovered 31 Million Metric Tons of Gold

Coins Legend June 18, 2022 0

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 and Mineral Development said there’s an estimated 320,158 tonnes of refined gold […]

Market updates

Billionaire Stan Druckenmiller Prefers Bitcoin Over Gold in ‘Inflationary Bull Market’

Coins Legend June 13, 2022 0

Renowned billionaire hedge fund manager Stanley Druckenmiller says that in an inflationary bull market, he wants to own bitcoin more than gold “for sure.” However, he explained that in a bear market, he would prefer to have gold. Stanley Druckenmiller on Crypto, Bitcoin, and Blockchain Stan Druckenmiller shared his view on bitcoin and cryptocurrency investing […]