It has been reported that Saudi Arabia is entertaining the idea of pricing its oil in yuans. Pricing oil in yuans would tremendously undermine the US petrodollar and could even knock off the dollar as a reserve currency. Currently, the majority of oil is bought and sold using dollars. This forces countries to hold large amounts of dollars in their banks in order to purchase oil, which props up the dollar as the ultimate de facto world currency. 

Many OPEC countries have talked about using gold or other alternatives currencies instead of dollars but are met with great resistance. China understands this issue and has worked to set up an alternative system to the petrodollar: the petroyuan.

The London Bullion Market Association (LBMA) has currently suspended transactions with all six Russian silver and gold refineries. The ban of Russian refineries on LBMA’s “Good Delivery” list is part of the US, EU, and the UK sanctioned imposed on Russia for its incursion on Ukraine. LBMA will still accept Russian bars produced prior to the ban.

Currently, many people are concerned about a falling economy and record-high inflation rates. If you look at the gold price, you will notice a steady growth in value compared to other assets. Read along as we answer some of the most common questions when investing in gold, silver, platinum, and palladium assets.

As the world transitions out of the COVID-19 pandemic and works towards rebuilding its economy, a growing conflict between Russia and Ukraine has reached a boiling point. Since 2014, Russian separatist forces in the Donbas region have fought against the Ukrainian military for independence. On Feb 21, 2022, Russian President Vladimir Putin announced that Russia will acknowledge the independence of the breakaway states Donetsk and Luhansk in Ukraine’s Donbas region. Putin then ordered troops to mobilize the breakaway regions and conduct “special operations” in Ukraine. As a result, the US has placed economic sanctions against Russia which can affect energy and precious metal supplies. Then, Germany suspended the certification of a new gas pipeline: the Nord Stream 2. 

Coin collecting has become a highly popular form of precious metals investing over the past several generations. Investors look towards precious metal coins that are exclusive as a way to add value to their collections. Not to mention it’s a fun hobby as well! If you want to diversify your portfolio with highly coveted coins, then the Tudor Beasts Collection might be right for you. Following the great success of the Royal Mint's Queen’s Beasts collection, investors anticipate that the Tudor Collection will attract even stronger demand. The Royal Mint coins provide top-of-the-line products and have gained international recognition for their return on investment.

A new malware dubbed “Mars Stealer” was recently used in several hacking incidents leading to the theft of millions of dollars in cryptocurrency from digital wallets. Mars Stealer is an upgrade to the Oski trojan which was widely used in malware attacks in 2019. The new malware targets over 40 browser-based digital wallet extensions like Coinbase Wallet, Metamask, and Binance Chain Wallet. Additionally, the malware has capabilities of targeting two-factor authentication (2FA) extensions with a grabber feature that takes the user’s private keys.

Security experts noted that digital wallets like Ronin Wallet, Nifty Wallet, MetaMask, Coinbase Wallet, Binance Chain Wallet, MEW CX, and TronLink are the main target for hackers using the malware. The malware targets Chromium-based browsers, which affects the most popularly used browser like Google Chrome, Brave, and Microsoft Edge. On the other hand, Opera and Firefox are less vulnerable but can still be affected by credential-hacking.

With growing concerns over an upcoming recession, stock market crash, and increasingly high inflation rates, many savvy investors are looking to precious metals as a safe way to protect their wealth during tough economic times. One way investors can hedge against inflation and a stock market crash is by rolling over their 401(k) into a gold IRA plan.

If you’re looking for an asset that protects against inflation, buy gold!  Take a look at our helpful guide below for some tips on purchasing this precious metal.

During times of high inflation, consumer goods, investments, real estate, and fuel prices can increase significantly. The increase in the cost of living expenses is a symptom of inflation -the expansion of the money supply within our economy. Inflation can deplete your wealth, leading many people to look for alternative options to hedge against it. 

There is no question that 2021 gold and silver prices generated strong debates among investors and analysts regarding precious metals’ performance numbers. But with the start of 2022, many investors and analysts are highly optimistic about silver’s potential of outperforming gold.

Silver struggled in 2021, down 13.5% year-to-date. Market factors ranging from mixed economic data, lower industrial demand, and a stabilized dollar affected the price of the precious metal.

In August 2020, Shiba Inu was created anonymously as an Etherium-based altcoin. This digital token receives its name from the famous Japanese hunting dog breed Shiba Inu and uses an image of the dog as its mascot.

Recently, the World Gold Council conducted a survey where it found that financial institutions, both private and public, are losing faith in the U.S. dollar. As a result, central banks are dropping dollars for gold. For example, Singapore increased its gold reserves by 20% earlier this year. By the second quarter of 2021, Singapore had added an additional 26.3 tons of gold. This is the first time Singapore has expanded its gold reserves since 2000, and its reserves now hold about 154 tons of the precious metal. The Monetary Authority of Singapore (MAS) believes that investing more in gold will allow the central bank to further diversify its portfolio and remain resilient through financial turmoil.

If you have visited a car dealership, gas station, or grocery store recently, there is a strong chance you’ve noticed a significant increase in prices. Similarly, if you look into consumer goods, investments, real estate properties, and even utility bills, you will see a huge difference in prices compared to previous years. This unfortunate phenomenon is called inflation. 

The definition of inflation has changed throughout the years. Central banks and economists, who support the bank’s monetary policies, will define it slightly differently than its detractors. But something everyone seems to agree upon is that inflation is the loss of a currency’s purchasing power.

New Bitcoin Investment Vehicle Debuted on Wall Street, With More on the Way

A new Bitcoin-focused exchange-traded fund, ProShares Bitcoin Strategy ETF, debuted on Wall Street. ProShares Bitcoin Strategy ETF will trade in Bitcoin futures contracts that speculate on the future price of Bitcoin as opposed to the cryptocurrency itself. 

In anticipation of the launch of the ETF, Bitcoin recently jumped 3%. Also, Bitcoin futures increased by 2%. Asset managers estimate that with the introduction of crypto NFTs, particularly with Bitcoin, valuation will continue to increase. Some analysts believe Bitcoin is well on its way to hitting the $100,000 mark. With reputable investors like Paul Tudor Jones and Mark Cuban betting big on Bitcoin, many people are flocking to what crypto pioneers call digital gold.

Precious metals such as gold and silver are viewed as timeless resources. Gold can protect wealth and bring security to your assets. Some people have become aware of fiat currency and the threat of an impending monetary collapse. As such,  precious metals continue to bear fruit while inflation continues to grow uncontrollably. But now, new forms have arisen as an alternative or even an accompaniment to gold, with cryptocurrency and blockchain technology.

Gold had an interesting week, as the start of the fourth quarter draws in mixed reports, stemming from weak jobs reports, continued COVID-19 restrictions, record-high oil prices, supply chain bottleneck, and inflation. The Fed continues to give mix signals as to what policies they will implement to help curb inflation and give a substantial boost to the economy. Recently, the Fed’s Jerome Powell mentioned the possibility of tapering COVID era policies, but yet, we do not know what tapering measures will be implemented.

Since the creation of Bitcoin in 2009, digital currencies have become all the rage, with a total market cap of $2.25 trillion. There are over 6,500 cryptocurrencies in circulation today, all with individual characteristics and features to differentiate themselves from each other. One set of cryptocurrencies that have become very popular amongst investors is the stablecoin. 

Stored away in a drawer for over a decade, this one-ounce gold coin was created with a 1,000 Bitcoin (BTC) denomination. At the time of the purchase, 1,000 BTC was worth $4,905. After years of BTC’s popularity, the coin is now worth $54 million as of October 6, 2021. 

Recently, the owner, who remains anonymous, spoke with GreatCollections Coin Auctions of Irvine, California, to help with appraisal logistics for the coin. GreatCollections submitted the BTC coin with an armored detail to get certified by Professional Coin Grading Service. Recently, the coin has been certified PCGS PR70DCAM (Proof 70 Deep Cameo).

Of all the choices investors have today to go fully digital with their finances, Bitcoin and gold are no longer the only options. China is making waves with its digital Yuan as Alipay announces it will allow users to trade with the new currency. This partnership evolved from Alipay and Mybank’s participation in China’s digital currency expansion and electronic payment testing.

Previously, we discussed what Reddit’s WallStreetBets were up to and where they might turn next. At first, many thought it would be the silver price because of previous discussions happening on the subforum. However, the CME Group increased its maintenance margins on Comex 5000 Silver Futures by about 18%, spiking the silver price. It fell the next day, proving that Reddit had little to nothing to do with this. Although the GameStop short squeeze seems to have blown over, retail investors continue to hold their stocks—partly owing to Robinhood and other brokers limiting the trade on GME last week. They have since been issued a class-action lawsuit, and face hearings this week. Because GameStop shares fell more than 50% after the frenzy, many are drawing comparisons to the Dot Com Bubble burst of 2000. But what exactly happened back then might not repeat in this case.

In fact, this massive social investing in GameStop, AMC, Nokia, and Blackberry might actually change everything.

On Wednesday, PayPal announced plans to introduce cryptocurrency trading on PayPal and Venmo. Thanks to Paxos Trust Company, PayPal and cryptos now unite, opening a new horizon for crypto traders. This introduction will enable crypto traders to use cryptocurrency for more applications, even on a daily basis. 

Investors buy gold as for one of three reasons: a hedge, a safe haven, or a direct investment. Which of these is the best reason? Research says that gold is the best hedge against a stock market crash.