Gold News: 12 February 2021
Gold Price: $1,818.20. Forecasts: $2,300 is conservative. News: Will Tesla charge gold with energy? Bitcoin buyers should hedge with gold, and secretive gold vaults under London.
Gold and gold-backed cryptocurrency news for the week ending 12 February 2021.
Gold Price (USD/OZ)
12 February 2021: $1,818.20 [View live gold price.]
Change from last week: $10.67 (0.59%)
View the complete archive of gold price forecasts.
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“Gold has fallen from its lofty August levels. The precious metal appears to be at a crossroads, but the price likely has to slide more from here in order for investors to get really spooked.”
“Tesla has supported the price of Bitcoin, but it can affect gold as well.”
“Australia’s top gold bosses say the yellow metal “can’t be substituted by the internet” and the forces driving demand for cryptocurrencies are also good for gold.”
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Gold-backed Cryptocurrency News
News related to gold-backed cryptocurrencies.
“This study is aimed at investigating the performance of Gold-backed cryptocurrencies during the COVID-19 crisis and in particular, during the bear market of 2020. Analysis is conducted on the daily returns of PAX Gold from 2 October 2019 to 28 September 2020 using the ARMA-GARCH model. The results are compared with those of Paxos Standard (PAX) and Gold during the same period. The results show the mean returns of the three financial instruments increase during crisis periods but the increase is insignificant. PAX Gold experiences increased volatility during the COVID-19 crisis and the bear market but the increase is insignificant.”
“Digital technology company Trovio has completed a $6.25m capital raising and is poised to roll out its blockchain-based business solution for the precious metals industry to other commodities and traded metals.”
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