When China went on the Lunar New Year holiday last month, its onshore markets were already looking bleak. On Jan 23, for instance, the Shanghai Composite Index sunk by 2.8%. Businesses, therefore, awaited the resumption of trade on Feb 3 with a lot of anxiety.
As expected, the stock index market plunged on its first business day of the year, hitting its lowest level in the last 13 years of trade. The risk sentiment caused a stock index plunge of 9.1%.
A large population of investors around the world would rather invest in gold than real estate or the stock market. A World Gold Council (WGC) research report shows that over 46% of all retail investors worldwide choose gold over these two other mainstream assets.
The study questioned respondents from a wide range of markets, including North America, China, India, Russia, and Germany. The results show that 78% of investors place most of their investment funds into their savings accounts.
One other investment choice that is more popular than the precious metal is life insurance. The study shows that 54% of…
Gold is the premier asset to hold if you are looking for a stable store of value. Owning gold and storing gold, however, are two separate logistical operations that have to be part of your arrangements.
Blockchain gold ownership is a revolutionary concept that is easily better than alternative storage options. The default option is storing gold yourself.
Should you take this path the stakes, as Mike Clark, President and General Manager of Diamond State Depository, points out, are incredibly high:
“If you lose it, it’s gone. It is not like your stock certificate, where you can pay an administrative…
It is official: the number of Wuhan coronavirus infections has now exceeded those of the 2003 SARS outbreak.
Officials from the Chinese government have established that there are currently 5,974 reported infections in China’s mainland. At the height of the SARS outbreak, there were 5,237 infections and a total of 800 deaths globally. Nevertheless, the Wuhan virus’s mortality rates have so far been lower, with 132 deaths in China.
Wuhan, a city in central China, is the epicenter of this virulent acute respiratory infection. …
In mid-2015, China ended years of speculation over its gold reserves by announcing that it had 1,658 tons of gold. The People’s Bank of China (PBOC) had increased its official gold holdings by 60% since its last disclosure in 2009. China had 1,054 tons of gold in its reserves as of April 2009.
By 2015, the price of bullion had dipped to its lowest since the 2011 gold bull run that pushed the metal to highs of $1,900 per ounce. …
European investors are showing a heightened level of interest in gold. This trend reflects a turnaround in the status of gold as an asset in the world’s economy.
Before the 2008 financial crash, European central banks were net sellers of gold. Gold represented a bygone era: a barbaric relic without periodic yield that was fast falling out of favor with institutional investors.
Europe was undoubtedly the most advanced region in the world between 11 than 20th centuries. Much of the continent had royal families that donned plenty of gold as a sign of status and wealth. As the continent modernized…
US President Donald Trump openly adores gold. He is perpetually surrounded by hues of what many, other than the Baby Boomers, consider a rather brash and tacky color.
As an illustration, on his first day in office, the president had the muted red drapes of Obama’s Oval Office replaced with new ones in his signature gold shade. This shiny yellow color also features prominently in his Mar-a-Lago estate and is of central importance in his ode to Versailles — his New York City penthouse. His private jet’s bathroom, bedroom, and seatbelt buckles all have the literal Midas touch.
Analyst James Turk, the founder and chairperson of GoldMoney, like many other gold bulls, predicts that 2020 is going to be a fantastic year for gold. The analyst notes that investors, once skeptical of the precious metal market, are heavily investing in gold.
In an interview, he said:
“It is now over four years since gold made its low in December 2015. Prices have been trending upward since then. It’s not been a straight line, of course; it never is. But even perennial bears are now starting to accept that gold is in a bull market …”
Some of the world’s most expensive gold items include a gold Lamborghini, a Queen Elizabeth giant coin, and the late Datta Phuge’s over-the-top gold shirt.
The shirt, made from 3kgs of gold, was worth over $240,000 and was lined with images of ancient Indian monarchs. A gold shirt might seem ostentatious anywhere in the world, but not in India.
As Phuge had said, donning gold was the ultimate statement of achievement in his culture. His shirt, therefore, was the quintessential status symbol of the success he had looked forward to since his childhood.
Gold and diamonds are recognized globally as symbols of status and luxury. Diamonds have the reputation of being the ultimate jewelry to wear. Gold is also a constant fixture in the luxury jewelry industry, but has a much different standing when compared to diamonds.
Jean-Marc Lieberherr, CEO of the Diamond Producers Association, aptly summarizes the different market roles of these two minerals as follows:
“People buy diamonds as a celebration and a symbol of love and luxury. It is not a traded commodity like gold and probably never will be because every diamond is unique. …
Novem is building the safest, fastest, and first gold-backed token launched on NEO. #NovemGold