Gold Silver Rally While Bitcoin Tumbles

Gold Silver Rally While Bitcoin Tumbles

Gold Silver Rally While Bitcoin TumblesLos Angeles CA, December 22 (Tangible Investments) by James O’ Dell Precious metals prices were mixed on Friday as Gold Silver rally while Bitcoin tumbles. Gold is up 0.61 percent to $1,273.80 an ounce after gaining $1.00 on Thursday to close at $1,266.10 an ounce.

Silver is up 1.65 percent to $16.36 an ounce after easing $0.07 on Thursday to close at $16.09 an ounce. The Gold/Silver ratio rose to 78.69. Platinum is up 0.33 percent to $919.00 an ounce. Palladium is down 0.10 percent to $1,028.00an ounce.

Gold hits 3 week highs in early pre-holiday trading on Friday and remains on pace for a second straight weekly gain. Analysts are saying the sharp downdraft in Bitcoin may have created a flow into the safe-haven Gold market.

Bitcoin briefly slipped below $11,000, which was down 44 percent from the record high set on Sunday. Coinbase, one of the biggest U.S. marketplaces for Bitcoin, halted trading amid a price rout in the cryptocurrencies on Friday.

“Investigating – All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience,” said Coinbase at 11:11 a.m., ET.

The creator of litecoin, Charlie Lee, has sold all of his holdings in the cryptocurrency that he created, over the past few days. Although, Lee kept some as “collectibles.”

Sean Boyd, CEO of Agnico Eagle Mines, thinks the crypto craze will work in Gold’s favor. “I actually think you can build a much stronger case for Gold in an environment where Bitcoin is drawing this kind of investor interest,” said Boyd.

President Trump Signs Tax Bill Into Law

Meanwhile, President Trump signed the tax bill into law Friday morning in the Oval Office. The bill marks the Trump Administration’s first major legislative accomplishment. Trump said that he had been considering waiting until January to sign the bill into law during a formal ceremony. He decided just this morning to go ahead and sign it today, then left for Mar-a-lago.

It’s important to protect your hard earned wealth during these times of economic and geopolitical uncertainty. At Tangible Investments, it doesn’t matter whether you’re new to precious metals or a seasoned veteran, you will always be dealing with top industry experts. Take a moment and browse our vast selection of valuable collectibles. Then, call Toll Free 1.888.655.9255 today.

Let the helpful staff at Tangible Investments assist you in your next purchase or sale. You may also wish to click here to check out our eBay store. Tangible Investments is the leading buyer of rare Gold and Silver coins, art, antiques, diamonds, sterling and flatware. We also loan against anything of value and offer more money at half the loan cost. Come in or call 1.888.655.9255 now for a free quote.

Leave a reply