After the price of gold surged past the $2,000 mark in early March, a new World Bank report now predicts the commodity’s value will only grow by just 3% in 2022.
While some gold supporters have predicted the price of the metal will likely hit a new all-time high, in its report, the World Bank is instead expecting a possible sharp price fall in 2023.
In the meantime, some reports have suggested that Russia is considering the possibility of backing its currency with gold.
Therefore, in order to learn more about why some gold-backed crypto tokens have failed, what the future holds, and the prospect of Russia returning to the gold standard, Bitcoin.com.
However, both what is now in bedded, rather than transitory inflation, plus the long term situation in Ukraine, should see gold through $2,100 later this year.
The two most common are that either they’ve been set up by digital experts without nuanced knowledge of the gold market, or conversely, by gold traders that don’t hire the right digital skillset.
TD: For a start, Aurus was founded by traders with digital skills and with enough knowledge to know their own limitations and the skill set to hire the best people with the correct skill sets and experience.
More interestingly, professional traders make their money on volatility not just buying and selling, the more the price moves, regardless of direction, it generates supply and demand and therefore trading opportunities.
BCN: Many influential figures have concluded that bitcoin is a digital form of gold while some have suggested that gold will lose its position as the most ideal alternative to fiat money even in uncertain times.
However, in a world where people are being displaced and have no access to reliable power, where networks are getting hacked and sponsored by governments; a few gold coins have an advantage.
Its now favored trading partners, China and India are the world’s two biggest buyers of gold, followed by their friend Turkey.