Veteran Wall Street investor Ross Gerber’s recent comments compared Bitcoin to gold, suggesting a promising future for the cryptocurrency. Gerber’s firm holds significant investments in Bitcoin, reflecting their confidence. This positive outlook contrasts with other investors’ skepticism about Bitcoin’s valuation. Bitcoin’s impressive 135% year-to-date surge underscores its allure as an alternative investment, although risks remain.
Wall Street veteran Dennis Gartman expressed skepticism towards Bitcoin’s recent record-breaking run, preferring gold due to its established history as a store of value. He compared Bitcoin’s rise to past speculative bubbles and emphasized gold’s centuries-long track record. Despite his pessimism, Gartman stated he won’t short Bitcoin. His opinion contrasts with Bitcoin’s substantial year-to-date gains, which significantly outpace those of gold.
Billionaire investor Ray Dalio warns of a global debt crisis, urging investors to consider gold and Bitcoin as hedges against declining fiat currencies. He highlights the risks of unsustainable debt in major economies and advocates for long-term investment strategies focused on structural trends.
Robert Kiyosaki, author of ‘Rich Dad Poor Dad,’ forecasts a Bitcoin price surge to $100,000, warning of a widening wealth gap. He advocates investing in Bitcoin, gold, and silver, cautioning against holding traditional fiat currencies.
Amidst rising gold and silver prices, renowned investor Jim Rogers urges investment in precious metals, highlighting the financial acumen of Indian women. India’s gold demand also surged 18% in the September quarter, driven by jewelry consumption and investment.
The re-election of Donald Trump has sent shockwaves through the metals markets, with analysts predicting a period of uncertainty and volatility. While some metals, particularly base metals, face potential headwinds, JPMorgan’s Commodities Research team sees gold as a safe haven, driven by the ‘debasement trade.’ The report analyzes the potential impact on different metals, including aluminum, copper, and gold, and highlights key factors to watch in the coming months.
Following Trump’s landslide victory, the author analyzes the potential impact of his policies on the price of gold, arguing that his focus on reducing geopolitical risk and implementing deflationary measures will likely lead to a decline in gold prices. Meanwhile, Trump’s tariffs could force China to stimulate its economy, benefiting companies operating in the domestic Chinese market.
Gold prices plummeted over 3% to $2650 per troy ounce as the US dollar surged following Donald Trump’s presidential election victory. The strong dollar, coupled with expectations of a more conservative approach from the Federal Reserve on interest rate cuts, put pressure on the precious metal. Today’s focus is on the Fed’s interest rate decision, which is expected to include a 25-basis-point cut. Technical analysis suggests further declines for gold, with the immediate downside target at $2617.40.
Renowned economist Peter Schiff advises investors to buy the dip in gold and gold mining stocks, citing concerns over potential inflation under Donald Trump’s economic policies. Schiff predicts that tax cuts combined with the inability to implement spending cuts will lead to increased inflation, similar to the Reagan era. The news comes as a recent Wall Street Journal survey reveals that a majority of economists anticipate higher inflation under Trump’s policies compared to his opponent, Kamala Harris.
Westgold Resources Limited (WGX) has announced record gold intercepts at its Bluebird-South Junction mining complex in Meekatharra, Western Australia, with a highlight being 13.71m @ 18.02g/t Au from the Polar Star Lode. This discovery signals a potential third mining opportunity, further strengthening the complex’s position as a key growth driver for Westgold’s Murchison portfolio.
