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Raoul Pal sold his gold because 'bitcoin is eating the world' – $300k price in 18 months Bitcoin is like a call option to the emergence of cryptocurrencies in the world, said Raoul Pal, CEO of Real Vision. "I've never seen anything like what is going on right now. You have a limited supply asset that now is a globally recognized brand that everybody knows, but not everybody understands. What's happening now is institutions are coming into the space," Pal…

The heat is on, as lawmakers scramble to pass a relief legislation In the words of Glenn Frey; “The heat is on … The pressure's high” Unquestionably there is an immense amount of pressure for lawmakers to come to a understanding and pass a greatly needed fiscal stimulus package before the end of the year. It is critically important that aid is available to those 10 million American individuals who are unemployed with their benefits running out this month. Concurrently…

  Bipartisan stimulus package framework could be completed this weekend In the words of the famous author Mark Twain, “If you don’t read the newspaper, you’re uninformed. If you read the newspaper, you’re misinformed.” These words seem to resonate in regards to the current news about the ongoing negotiations to come up with a fiscal stimulus proposal that will be palatable to both sides of the political fence. If you have been following the current news, although you might be…

Peter Hug – Gold, silver prices bounce off support, can rally last? Gold rose 2% on Monday, with silver up 5.5% on the trading session. Peter Hug, global trading director of Kitco News, said that fundamentals line up with this rally. Equities also saw a bounce. Hug said that talks of a new round of fiscal stimulus is adding fuel to the risk-on sentiment while driving money to precious metals at the same time. The U.S. dollar weakened on the…

This is only the start for gold prices as bitcoin hits an all-time high – currency debasement will drive prices higher – Charlie Morris The gold market is struggling to find near-term bullish momentum as the price trades below $1,800 an ounce; however, one fund manager said that if investors want to know where the precious metal is heading, they need to look to bitcoin. Monday, the digital currency pushed to a new all-time higher within striking distance of $20,000.…

Can gold price fall below $1,700 before selloff is over? Markets eye COVID restrictions, stimulus Gold is down for the third week in a row but does this mean the bull market is over? Some analysts are beginning to reverse their expectations of $2,000 gold by the end of the year. Thin holiday trading and stop losses have contributed to gold's move below $1,800 an ounce on Friday. And even though analysts remain certain that the macro environment is still…

Global stocks hover near record high, oil skids on demand outlook Stock Markets41 minutes ago (Nov 27, 2020 01:06AM ET) TOKYO (Reuters) – Asian shares stalled near record highs on Friday as investors weighed renewed doubts about a highly-anticipated coronavirus vaccine against hopes that some of the region's economies will recovery quicker than their Western peers. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.04% but remained with striking distance of a life-time peak touched this week. Australian shares…

Peter Hug: Should gold and silver still be in your portfolio? Gold’s medium-term outlook is still constructive, and long-term investors should be using lower prices to re-weight their gold holdings, said Peter Hug, global trading director of Kitco Metals. “There’s a bridge that needs to be gapped here until this vaccine gives everybody the confidence to go back and have this economy at full bore. That is, to me going to require additional stimulus,” Hug said. “The politicians might not…