Gold and gold-backed cryptocurrency news for the week ending 14 August, 2020.
Gold Price (USD/OZ)
14 August 2020: $1947.01 [View live gold price.]
Change from last week: -$113.87 (-5.53%)
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Gold News Around The Web
Record gold and silver trading at world No.1 on massive price swings - [BullionVault]
“Nearly $50m traded in 24 hours at BullionVault...”
“The price of gold just suffered its steepest 1-day drop since the precious metal's historic price crash of April 2013”.
After a huge sell-off, here's 5 reasons gold might be down but not out - [Markets Insider]
Gold seen at $2,300 on a six-to-twelve month view – ANZ - [FX Street]
Gold's fall won't drive it below $1,700 again - [BloombergQuint]
Why gold is not a one-way bet - [Australian Financial Review]
“The risk-adjusted returns achieved by gold this year are not sustainable. Prudence is required from here.”
Gold prices could double from here - [Livewire]
Why is everyone buying gold? - [Business Standard]
Gold-backed yuan may challenge flagging dollar - [Asia Times]
“While US undermines its fast-depreciating currency China is well-poised to seize a golden opportunity.”
In India, gold-based finance is booming - [The Economist]
Wiluna hedges over $110 million worth of gold at near record prices - [The West Australian]
US dollar denominated gold trade to be allowed - [The Thaiger]
“Ending decades of regulations limiting gold trade in Thailand to the baht, the US dollar will now be allowed as well. 2 weeks ago, in a bid to slow the rapidly rising baht and avoid landing on the US list of “currency manipulators”, the Bank of Thailand announced a policy to allow trading gold products in US dollars.”
Gold-backed Crypto News
News related to gold-backed cryptocurrencies:
How to speculate on the price of gold using cryptocurrencies - [CryptoDaily]
Why gold-backed tokens are the perfect hedge - [Coinspeaker]
PAX Gold: Crypto backed by gold but outperforms gold - [Nairametrics]
Bullionix is set to drive new minting user experience with Chainlink - [Cryptomoonpress]
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