Re: Gold Price Prediction & its impact on cryptocurrencies
^ I just read about the prediction that the price of gold will go to the moon.
the price of Gold for the past few years
https://goldprice.org/spot-gold.html
are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD Stablecoin.
#feel free to discuss
Quote
World gold is predicted to fly to US $ 10,000 / troy ounce, by Dan Olivier, founder of Myrmikan Capital. This is a New York-based fund management company focused on gold research (Myrmikan Research) and fund manager Myrmikan Gold Fund.
Referring to the rules in the market, one troy ounce is equivalent to 31.1 grams, so the amount of US $ 10,000 per troy ounce projected by Dan Oliver, then converted by dividing the number by 31.1 grams, the result is the US $ 321.54 / gram
Referring to the rules in the market, one troy ounce is equivalent to 31.1 grams, so the amount of US $ 10,000 per troy ounce projected by Dan Oliver, then converted by dividing the number by 31.1 grams, the result is the US $ 321.54 / gram
the price of Gold for the past few years
https://goldprice.org/spot-gold.html
are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD Stablecoin.
#feel free to discuss
I do not believe in a rapid rise in the prices of gold and silver in the short term.
At the same time, from a fundamental point of view, the growth in the price of gold, silver, platinum and palladium is justified. However, all these metals have not only a monetary function, they are also actively used in industry, in particular, in the production of microelectronics. No one is interested in rising prices for processors and slowing down scientific and technological progress.
In addition, the main exporters of precious metals are Iran and Russia, which are under sanctions. Western countries are not interested in increasing foreign exchange earnings and capitalization of the gold and foreign exchange reserves of the Central Banks of these countries.
In addition, gold is a direct competitor to the US dollar. The rise in the price of gold weakens the authority of the US dollar.
All these circumstances hinder the growth of gold prices in the long term.