GOLD NEWS

Central banks forsaking gold for bitcoin would be height of folly

Sat Dec 21 2024

Gold is a marvellously flexible precious metal, commodity or form of money adaptable to different cultures, currencies and ideologies. These are qualities it has displayed over centuries and which it is demonstrating again now despite challenges from upstart cryptocurrencies.

The fact that the price of gold has soared by more than 30 per cent to a record of more than US$2,600 an ounce this year has received far less publicity than the fact the always volatile price of bitcoin achieved a record value of more than US$100,000. Yet gold’s rise is by far the more significant of the two developments.

Source: https://www.scmp.com/