Sentences with phrase «gold as a currency»

Gold bugs look at gold as a currency, but it is not one and unlikely to be one in our lifetime.

(over $ 4.6 billion invested in gold) «I view gold as a currency, not a commodity.

I like gold as a currency, but am not crazy about it as an investment.

Ferri went on to say that the whole concept of owning gold as a currency of last resort presumes that you own physical gold.

Gold advocates will point out that Bitcoin has been around less than a decade and people have been using gold as currency for at least three millennia.

Not exact matches

NEW YORK / LONDON, May 2 - Gold prices hovered near four - month lows on Wednesday as the dollar advanced, and were expected to remain under pressure from a significantly stronger U.S. currency and weak investment demand.

LONDON, May 2 - Gold steadied on Wednesday near 4 - month lows as the dollar's uptrend paused, but prices of the precious metal are expected to remain under pressure from a significantly stronger U.S. currency and weak investment demand.

(New throughout, updates prices, market activity and comments; adds second byline and NEW YORK) NEW YORK / LONDON, May 2 (Reuters)- Gold prices hovered near four - month lows on Wednesday as the dollar advanced, and were expected to remain under pressure from a significantly stronger U.S. currency and weak investment demand.

As well as their impact on the currency markets, rising interest rates weigh on gold in their own right, as they increase the opportunity cost of holding non-yielding bullioAs well as their impact on the currency markets, rising interest rates weigh on gold in their own right, as they increase the opportunity cost of holding non-yielding bullioas their impact on the currency markets, rising interest rates weigh on gold in their own right, as they increase the opportunity cost of holding non-yielding bullioas they increase the opportunity cost of holding non-yielding bullion.

Further, China's devaluation of its currency, the renminbi, in August and imposition of investment restrictions made people in the country — which has long vied with India as the top physical gold market — less able to buy gold.

In 2017, the total market for such currencies topped $ 100 billion as investors of all stripes began to embrace them as an alternate asset class akin to gold.

Meanwhile, others see digital currencies as an asset like gold, which can hold its value amid times of government instability.

Bitcoin has soared more than 1,600 percent this year as people rush to buy the digital currency in the hope it will become a legitimate alternative to gold or traditional money.

Load up on as much gold or silver as you can afford, he urges, because if the currency fails, citizens may suddenly find it against the law to buy gold or move savings abroad.

But as I live in the real world, I buy gold, even though I am optimistic we'll get through this rough patch; because I simply don't trust the bas * % * ds who are driving this ship with 100 % of my money in dollars, or any fiat currency, for that matter.»

Our first two categories enjoy maximum popularity at peaks of fear: Terror over economic collapse drives individuals to currency - based assets, most particularly U.S. obligations, and fear of currency collapse fosters movement to sterile assets such as gold.

Also, cryptocurrency investors are preparing for another Bitcoin hard fork next week, in which enthusiasts are planning to split off a second version of the digital currency known as Bitcoin Gold.

Morehead, who began his career at Goldman Sachs as a mortgage - backed security trader, characterized bitcoin and other digital currencies as «digital gold.»

Santelli began his career in 1979 as a trader and order - filler at the Chicago Mercantile Exchange in a variety of markets, including gold, lumber, CDs, T - bills, foreign currencies and livestock.

But whether Bitcoin can actually replace gold (let alone traditional government - backed currency) has been a matter of fervent debate — quite literally, as evidenced by an event last week entitled «Gold Versus Bitcoin,» held at a New York comedy club, in which well - known gold proponent (Jim Rickards debated James Altucher, a self - help author now peddling Bitcoin investment advice under the moniker «crypto - genius.&ragold (let alone traditional government - backed currency) has been a matter of fervent debate — quite literally, as evidenced by an event last week entitled «Gold Versus Bitcoin,» held at a New York comedy club, in which well - known gold proponent (Jim Rickards debated James Altucher, a self - help author now peddling Bitcoin investment advice under the moniker «crypto - genius.&raGold Versus Bitcoin,» held at a New York comedy club, in which well - known gold proponent (Jim Rickards debated James Altucher, a self - help author now peddling Bitcoin investment advice under the moniker «crypto - genius.&ragold proponent (Jim Rickards debated James Altucher, a self - help author now peddling Bitcoin investment advice under the moniker «crypto - genius.»

Despite a decline in fiat currency reserves, China's holdings of gold have increased to $ 60.19 billion in December as compared to $ 59.52 billion in November.

While innovation should always be encouraged, Bitcoin isn't yet fit as a place for orphans and widows to shelter their nest eggs — although there are admittedly plenty of gold bugs who would say the same about fiat currencies.

Gold has always been the primary standard by which we measure value, thanks to its continued demand as a currency, store of value and speculative asset.

As for the British example at the end of the 19th Century, in those days currency was part of reserve accumulation, but much if not most reserves were in the form of gold or silver, and while Britain had the most important reserve currency, the difference between central bank holdings of sterling and central bank holdings of other gold - based currencies, like the franc, were pretty small relative to total trade.

I can understand the benefits of having a safe haven currency like the traditional Swiss Franc which is divisible and liquid, however claims of Gold being illiqiud and something clumsy that can not be used as currency are false.

Michael Hudson: There are so many currency exchange rate problems that people are buying gold as a safe haven.

People think that if there are rival currency groupings and national currencies are going bust, we might as well use gold as a safe haven.

Gold has 5000 years of history behind it as currency, blink and you might miss the reversion to the mean of Gold being money again.

Gold is a currency with no economy to support, which makes it an ideal candidate as the other side of the US dollar trade.

I've been following virtual currency since the Dialbo II days (if had it's own «de facto» currency above and beyond the «gold pieces» in the game), and it's amazing to watch BTC grow as quickly as it has.

The meeting summarized China's recent financial initiatives as they pertain to gold, silver, and broader digital economic transformation, and also featured notable commentary on digital currencies from Deputy Governor Fan Yifei of the People's Bank of China (PBoC).

In his speech, Yifei emphasized the importance of 2018 for China's long - term economic strategy, and discussed how the central bank's gold and silver department used problem - oriented, market - oriented, and livelihood - oriented «philosophy, style and methods» to promote reform and innovation in «key areas» of «currency bullion» as well as «currency gold and silver business.»

For advocates of bitcoin and the other cryptocurrencies surging in value, the gold may be in the shares of the companies that produce the computer processors and chips used to create the digital currencies in the process that's become known as mining.

• The gold industry can be significantly affected by international monetary and political developments, such as currency devaluations or revaluations, central bank movements, economic and social conditions within a country, trade imbalances, or trade or currency restrictions between countries.

And thanks to the flexibility of the Ripple protocol, which seamlessly manages all necessary currency conversions behind the scenes, holders of XAU can spend their gold wherever Bitcoin is accepted, such as Overstock, Expedia, and most recently, Dell.

And probably to dump all other foreign fiat currencies for gold as well.

Bloomberg reports that China could boost its gold purchases from Hong Kong as much as 50 percent this year over concerns of currency devaluation, a slowing real estate market and shaky stocks.

[Moammar Gadhafi] initiated a movement to refuse the dollar and the euro, and named on Arab and African nations to use a new currency as an alternative, the gold dinar.

One of the consequences of a weaker rand has been stronger gold priced in the local currency and higher South African gold mining stocks, as measured by the FTSE / JSE Africa Gold Mining Ingold priced in the local currency and higher South African gold mining stocks, as measured by the FTSE / JSE Africa Gold Mining Ingold mining stocks, as measured by the FTSE / JSE Africa Gold Mining InGold Mining Index.

To begin with, you need to select an underlying asset to trade in, such as a currency pair, gold or oil.

A gold - backed dollar would also head off China's not too subtle attempt at replacement of the Greenback with the Yuan as the world's reserve currency.

Since 2001 the silver and gold markets have gone up substantially as a reaction to the 20 year precious metals bear market from 1980 — 2000, massive increases in military spending, weakening global economies that REQUIRE Quantitative Easing to avoid deflation, the rise of competing currencies that weaken the dollar's trading status, excessive debts in Europe, Japan, the United Kingdom, and the United States, and so much more.

Ethereum, Bitcoin Cash and Litecoin have now been added to the list of transactional currencies which can be used to purchase gold bullion and silver bullion at BullionStar.Since May 2014 BullionStar has accepted Bitcoin as a payment option and was... [Read More]

But since bitcoin has become a store of value as a hedge against a falling yuan, the «digital gold» currency could continue on its upwards trajectory.

This «money of the world,» as Sir James Steuart called gold in 1767, formed the basis of domestic currency as well.

What led to the demise of the gold standard has relevance to today's challenge to the dollar as the global reserve currency.

«Members of Congress and covered employees are already required to report certain asset holdings over certain amounts, including reporting any commodities holding over $ 1,000, a Member or covered employee should report any virtual currency holding as they would report any other commodity, such as gold.»

The cabinet will decide on Friday how to treat bitcoins under existing laws, said people familiar with the matter, adding that banks and securities firms will not be able to handle bitcoin as part of their main business, suggesting the crypto - currency will be treated more as a commodity, like gold.

Turkey's demand for gold surged by more than a third in the first quarter, as consumers flocked to the precious metal as a protection against a tumbling currency and rising inflation.

Frank Talk Live features U.S. Global Investors» CEO and Chief Investment Officer Frank Holmes as he dives into a new investment topic, from gold mining and global resources to digital currencies and emerging markets.