Sprott Precious Metals Watch
By GCRU Gold News on Thursday, July 20 2017, 23:26 - Permalink
A highlight of 2017 financial markets has certainly been the explosion of interest in cryptocurrencies. We attribute growing interest in digital currencies to a concern shared by many gold investors. In short, resentment is mounting over the financially repressive policies of global central banks. Specifically, the imposition of negative interest rates and related official backing of increasingly cashless economies have catalyzed interest in investment vehicles outside the traditional financial system, such as precious metals and cryptocurrencies. Along the way, comparisons of bitcoin to gold have become all the rage. Because spot gold has spent the past five-and-a-half months trading within a $100-range, while the prices of cryptocurrencies have soared, some have even suggested that digital currencies are usurping gold’s role as preferred store of value.