The yield on US Treasuries and the US currency index went up, causing gold to fall to $1,784 per troy ounce. The yellow precious metal is now unlucky more than all other precious metals.
*Bitcoin's rally *has also negatively impacted the main defensive asset. However, we should not forget that the US economic stimulus package has not yet been adopted, the pandemic is raging around the world, and the inflation rate is starting to rise.
In such conditions, the gold rate will resume its upward trend. Therefore, there is now an opportunity to purchase investment coins made of gold and silver at a relatively low price, given the optimistic forecasts of gold quotes for 2021.
Prospects for gold
Analyst Gary Wagner recently spoke in an interview with Kitco News about why the price of gold is now showing some weakening. According to him, three important factors are currently affecting the gold market, namely:
At first, gold was pressured by the strengthening of the US dollar;
Quotes of American stocks reached record values. Therefore, private investors directed their capital to the stock market to quickly capitalize on its growth;
As a third factor, the expert named the growth in the yield of US government bonds, which are a direct competitor for the yellow precious metal.
For these three reasons, investors should look forward to a possible further decline in the value of gold. Against this background, growth may show silver. The main factor supporting this precious metal is industrial demand. According to Wagner, it may happen in the future that the prices of gold and silver may move in opposite directions.
Silver and Platinum
According to the expert, platinum and silver are currently receiving fundamental support to continue the uptrend, not only due to rising inflation but also due to improved economic conditions. During the current year 2021, this may lead to the fact that, at the end of the year, both precious metals can show even better profitability in percentage terms than the yellow precious metal.
Gold remains gold
Of course, like you, I am interested in a way to save my money in this difficult time. However, I am still leaning towards the idea that assets should be not only a means but also a tool. Digital gold. These are the future gold investment markets. This method attracts me with many advantages. Digital gold allows us to manage our assets from anywhere in the world. I do not take into account such cryptocurrencies as bitcoin. To be honest, I don't understand them. They easily lose thousands of dollars in value overnight.
Digital gold creates a real asset for us. Which we can trade on the stock exchange or invest in gold. Today digital gold can be purchased at www.bitforex.com, you will have the opportunity to purchase it using USDT, ETH or BTC — choose the method convenient for you.
My opinion
Since most of the influential countries only dream of launching their electronic money. Many private companies have already done this. Therefore, I think soon even banks will accept digital gold. Making direct translations. It's just a matter of time.
Website: https://gold.storage/ru/home
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Youtube: https://www.youtube.com/channel/UCUo-D88vDTvntg2QhxDqBGQ
Reddit: https://www.reddit.com/r/golderc20/
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Coinmarketcap: https://coinmarketcap.com/currencies/digital-gold/
Galantin
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