Gold’s value as a strategic asset has been on the incline in the past few years, as central banks increase their gold holdings. Many central bankers are still unsure about managing their gold holdings due to a lack of transparency in terms of pricing. It doesn’t help that the gold lending market is primarily an over-the-counter (OTC) market, which raises transparency concerns, partly because details about starting price and intra-round prices are not revealed.
Gold prices have hit record highs in 2020 as investors scurry towards it amidst negative-yielding debt. Meanwhile, gold mining companies have been ramping up production to keep up the pace with the growing demand. JPMorgan and Chase Bank lifted their estimates on the outlook for gold to $2000 an ounce. The point is, 2020 is looking great for the bullion.
Perhaps you’re buying new jewelry and don’t want to get ripped off. Maybe you want to sell your old jewelry and want an idea of the prices you’ll get on the market. In all these cases, what you need is to have your jewelry appraised by an expert. Receiving an official appraisal will qualify you to receive financial reimbursements for your jewelry from your insurance company.
Bitcoin, the world’s most popular digital coin successfully underwent its third halving in its history on 12 May 2020, seeing its daily supply of new coin reduced by half. This happens only once every four years and is eagerly observed by cryptocurrency investors for the profound effect halving has on cryptocurrency as a whole.
If your gold jewelry is looking dull and is no longer usable then you should consider selling it for cash. Selling old jewelry for money may be a great idea since the price of gold tends to rise with time. Thus, you may get more from the sale of old jewelry than what you paid for it. You may have to wait for some time though and follow prices to see if the sale is worth it.
As a result of the COVID-19 outbreak, gold prices dropped as more and more entities started selling gold. However, gold prices recovered following the actions of central banks worldwide, which include deep interest rate cuts and massive financial packages to revive stagnating economies.
COVID-19 is spreading fast around the world and is showing no signs of abating or subsiding. It appears that coronavirus is here to stay and is not going away any time soon. Governments and private entities around the world are striving for solutions to this global crisis that has thwarted not only world trade but daily activities that we once took for granted. But even in these dark times, help may be at hand from an unexpected direction: gold-based tests for COVID-19.