Talking Bitcoin, Gold And Silver

A momentous thing just happened -- Bitcoin breached $1,000.

Is it a bubble? Who knows, but one thing is certain, you can buy a lot more gold and silver with one bitcoin than you could a year ago.

Fiat Alternatives
There are many parallels between bitcoin and gold, both are alternatives to fiat money, both are faceless currencies and both have limited supplies. However, in the last two years one has seen its price climb from $7 to $1000, the other has fallen from $1,900 to $1200.

Which begs the question: is bitcoin is the new gold?

Gold and Silver : 20 ‘Tough’ Questions for Eric Sprott

Eric Sprott founded Sprott Asset Management LP in 2001. Sprott Asset Management is an independent asset management company headquartered in Toronto, Canada. The company manages the Sprott family of mutual funds, hedge funds, physical bullion funds and specialty products and is dedicated to achieving superior returns for its investors over the long term.

Eric Sprott recently answered a number of questions on the minds of gold and silver investors, and we hope you’ll find his insights valuable.

China Already Tops Record For Full-Year Gold Demand

Gold demand in China remained robust in the third quarter, with the country already topping its previous full-year record for gold buying, the World Gold Council reported Thursday.

Gold Next Week: Survey Participants Torn Over Gold Market Direction

 

By Debbie Carlson

Friday’s U.S. monthly jobs report did not provide any guidance for market direction, so market participants are back to debating whether or not gold can break out of its current range. Participants in the weekly Kitco News gold survey are equally torn over next week’s price direction. 

Gold and Silver Prices Outlook for June 3-7

Gold and silver didn’t do much on a weekly scale as gold inched up while silver slipped. Their unclear trend coincided with the developments in the currencies markets as the Euro rallied against the USD while the Aussie dollar and Canadian dollar depreciated during last week.  

Last week, several U.S reports were published: GDP for the first quarter was slightly revised down to a growth rate of 2.4%; pending home sales rose during April; jobless claims increased by 10k to reach 354k. By the end of the week China’s manufacturing PMI was published, in which the index inched up to 50.8 in May. This news may help rally commodities prices next week. 

Will precious metals bounce back this week?