(Kitco News) After losing more than $ 40, gold makes a comeback following another disappointing US jobs report
Here’s a look at the top three Kitco stories of the week:
3. Bitcoin is a substitute for copper, not gold – Goldman’s top commodities analyst
Cryptocurrencies are risky assets, which is why they are more closely aligned with commodities like copper and oil.
“There is good inflation, and there is bad inflation. Good inflation is when demand pulls it. That’s what bitcoin, copper and oil cover. Gold covers bad inflation. inflation where supply is tight, ”Goldman said.
2. The Russian investment fund will abandon all US dollar assets for gold, euro and yuan this month
The move means the sale of $ 40 billion in US dollar assets. The fund holds Russia’s oil revenues with a total value of more than $ 185 billion.
1. “Gold stocks are the best buy since the 80s”: Gold price will double, but gold stocks could see their 10X gains in the next 3 years
The only ratio to watch is the XAU-to-gold ratio, Timothy Ord, president and editor of The Ord Oracle, told Kitco News.
“Gold stocks are a much better buy right now than gold itself… Right now the XAU-to-gold ratio is around zero-nine point, which is cheap by historical standards. and at its previous top high at point three-five, “Ord says.
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