UBS has raised its gold price forecast following a record surge in gold prices, driven by anticipated Federal Reserve rate cuts and a weakening U.S. dollar. The main factors behind the investment bank’s upgraded gold price prediction include softer U.S. economic data, increased central bank demand, and ongoing geopolitical uncertainties. UBS Revises Gold Price Prediction […]
CME Group, the world’s largest futures exchange, is planning to launch bitcoin trading to capitalize on the surging demand among Wall Street money managers for exposure to the cryptocurrency sector, according to a report from the Financial Times. The Chicago-based group has reportedly been in discussions with traders interested in buying and selling the cryptocurrency […]
Economist and gold bug Peter Schiff has explained why the price of gold is rising, warning that bitcoin is a “gigantic bubble.” He expects gold to be in “double digits” by next year. Meanwhile, he said that bitcoin is in a bear market and the price of the cryptocurrency “is going much lower than this.” […]
This week, bitcoin’s value ascended to the vicinity of $ 64,000, leading to a widespread belief among observers that the bullish trend has officially commenced. Speculation centers on the exact moment this upward trajectory began, given that bitcoin has appreciated by 46% since the start of the year and 139% over the previous six …
Peter Schiff, a U.S. economist and gold advocate, has attributed the lacklustre performance of gold mining companies to the rising inflation rate, which contrasts with a largely static gold price. Schiff maintains that the U.S. inflation rate would have been even higher if the U.S. Federal Reserve had not increased interest rates. The economist also […]