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CATEGORY: precious metal


Diamonds Standard Co. uses precious gems to back payment network

Author: Cointelegraph by Vince Quill
United States
May 22, 2024 12:00

Diamonds Standard Co. uses precious gems to back payment network

Diamond Standard Co. has introduced a blockchain payments system that uses diamonds as backing collateral for transactions.

Gold Rush Or Bitcoin Boom? China Buys Big, BTC Price Follows

Author: Christian Encila
United Kingdom
Apr 22, 2025 12:10

Gold Rush Or Bitcoin Boom? China Buys Big, BTC Price Follows

China has added five tonnes of gold to its reserves in under a month as part of an increasing aggressive purchase of the precious metal. Bitcoin continues to stand firm above the $87,000 level despite recent market fluctuations. Related Reading: Todays $1K XRP Bag May Become Tomorrows Jackpot, Crypto Founder Says PBOC Gold Accumulation Up As Bitcoin Price Soars According to the Kobeissi Letter in posting messages on X, the People’s Bank of China has been abruptly accumulating gold. It has acquired five tonnes over the last month. This has taken place amid uncertainty in global markets from the rift caused by persistent tensions in trade along US-China fronts. Bitcoin traders seem to witness this, as the price of the crypto holds strong at $87,280, with scanty negative macronews in the background. Merely four days ago, cryptocurrencies fell back after US President Donald Trump proclaimed a 245% import tax on Chinese items. The quick recovery has surprised many market observers. BREAKING: Chinas central bank increased its gold holdings by 5 tonnes in March, posting their 5th consecutive monthly purchase. This brings total Chinas gold reserves to a record 2,292 tonnes. Chinese gold holdings now reflect 6.5% of its total official reserve assets. pic.twitter.com/LuwiBvnirn The Kobeissi Letter (@KobeissiLetter) April 20, 2025 Whale Wallets Indicate Growing Appetite For Bitcoin Statistics by Glassnode indicate a steep increase in addresses containing over 1,000 Bitcoin. More than 60 new “whale” wallets have entered the market since early March. The number of such large Bitcoin addresses has increased from 2,030 in late February to 2,100 as of April 15, which is the highest in four months. The boost indicates large investors are purchasing more Bitcoin despite changing market conditions. Others say the strength of Bitcoin lies in its increased popularity as an inflation hedge, akin to gold. This theory has become more widely accepted as China seems to be steering away from US dollar-denominated assets. Gold Prices Hit New Records As Trade Tensions Mount Prices of gold have surged to $3,401, up by close to $100 over only a week. The rise comes as institutions, dominated by China, raise their gold stockpiles. The ongoing tariff war between the US and China has driven investors towards traditional safe-haven assets. Bitcoin is also seen to be gaining from this same trend, with some investors seeing it as a contemporary option for gold in times of uncertainty. Mixed Signals From ETF Flows And Market Analysts Not everything is rosy for Bitcoin. Reports disclose that nearly $5 billion has exited Bitcoin ETFs since their aggregate flow hit all-time highs. In spite of this outflow, Bitcoin’s price has remained extremely stable. Related Reading: Whales Swallowing Bitcoin Fast Will This Push BTC Price Up? There are also contradictory reports regarding China’s position on Bitcoin. While there are rumors that China may be accumulating a Strategic Bitcoin Reserve, other reports say the nation sold 15,000 BTC on offshore exchanges. The cryptocurrency’s ability to maintain its price despite these mixed signals has caught the attention of traders worldwide. As US-China economic tensions continue, investors are watching both gold and Bitcoin as potential safe havens in an increasingly unstable global market. Featured image from GEPL Capital, chart from TradingView

Mar 25, 2024 05:50

Report: China Could Be Hoarding Over 5,300 Tonnes of Gold, Might Create Price Perfect Storm

A recent report from Jan Nieuwenhuijs, an expert in the Chinese gold market, has found that the actual gold reserves held by the People’s Bank of China might comprise over 5,300 tonnes, dwarfing official numbers. Nieuwenhuijs explains China might be a driving force behind increasing gold prices, as the country moves to hoarding gold to [...]

The post Report: China Could Be Hoarding Over 5,300 Tonnes of Gold, Might Create Price Perfect Storm appeared first on Crypto Breaking News.

May 25, 2023 10:30

Silver Set to Shine: Citigroup Analysts Forecast $30 Value in Next 6-12 Months

Citigroup analysts foresee a significant increase in silver’s value, potentially hitting $30 per unit within the next 6-12 months, according to the multinational bank’s latest silver assessment. The experts at Citi predict an ongoing decline of the U.S. dollar and anticipate a decrease in the federal funds rate at some point. Silver’s Value Poised to [...]

The post Silver Set to Shine: Citigroup Analysts Forecast $30 Value in Next 6-12 Months appeared first on Crypto Breaking News.

May 22, 2023 10:30

Gold Prices Poised to Skyrocket as Expert Predicts Fourfold Increase in Demand

Although gold has been trading below the $2K range since May 16, 2023, Rick Rule, the founder of Rule Investment Media, is confident that the struggling U.S. economy will cause demand for precious metals like gold to skyrocket. In an interview published on May 18, Rule emphasized that people’s anxiety about the purchasing power of [...]

The post Gold Prices Poised to Skyrocket as Expert Predicts Fourfold Increase in Demand appeared first on Crypto Breaking News.

Apr 22, 2023 10:30

Citi Analysts Predict ‘Near-Perfect Conditions’ for Silver’s Ongoing Bull Market; Experts Suggest $30 an Ounce a Possibility

The price of silver fell 2.85% against the U.S. dollar last week. However, taking a broader perspective, the precious metal has made significant gains this year. Over the past six months, silver has risen more than 29% against the greenback, and as of April 22, 2023, it was hovering around $25.08 per ounce. Citi analysts [...]

The post Citi Analysts Predict ‘Near-Perfect Conditions’ for Silver’s Ongoing Bull Market; Experts Suggest $30 an Ounce a Possibility appeared first on Crypto Breaking News.

Mar 18, 2023 10:30

Analysts Suspect Banking Crisis Triggered ‘Resting Bull Market’ in Gold, Silver Could Print Much Higher Gains

At the start of the week, a troy ounce of .999 fine gold was trading at $1,813 per unit. Seven days later, gold rose 9.65% against the U.S. dollar to the current spot price of $1,988 per ounce. Gold’s rise comes at a time when confidence in the global banking system is at an all-time [...]

The post Analysts Suspect Banking Crisis Triggered ‘Resting Bull Market’ in Gold, Silver Could Print Much Higher Gains appeared first on Crypto Breaking News.

Mar 17, 2023 10:30

‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change

At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many market observers are wondering why specific assets like PMs and [...]

The post ‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change appeared first on Crypto Breaking News.

Apr 16, 2023 02:10

Silk Road Hacker Sentenced to a Year in Prison for Wire Fraud

On April 14, 2023, the Department of Justice (DOJ) for the Southern District of New York revealed that the hacker responsible for the Silk Road marketplace breach had been sentenced to a year in prison for wire fraud charges. James Zhong stole more than 50,000 bitcoin from the darknet marketplace (DNM) in September 2012. DOJ [...]

The post Silk Road Hacker Sentenced to a Year in Prison for Wire Fraud appeared first on Crypto Breaking News.

Aug 12, 2023 07:25

CFTC Charges Fundsz and Individuals for Fraudulent Cryptocurrency and Precious Metals Solicitation


CFTC files complaint against Fundsz and individuals for fraudulent crypto and precious metals trading. Assets frozen; hearing set for August 23. (Read More)

Aug 07, 2023 10:30

Bitcoin Faces Increased Risk Relative to Stocks: Commodity Strategist Mike McGlone Warns of Challenges

Seasoned commodity strategist Mike McGlone says bitcoin is now riskier relative to stocks, while he further warned that economic downturn pressures may hold silver prices at bay. Bitcoin Volatility Low, Silver Faces Challenges: McGlone In a client communication dated August 2, 2023, the prominent Bloomberg Intelligence analyst observed that bitcoin’s 180-day volatility, hovering near record [...]

The post Bitcoin Faces Increased Risk Relative to Stocks: Commodity Strategist Mike McGlone Warns of Challenges appeared first on Crypto Breaking News.

May 02, 2023 10:30

Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking Industry

Following the acquisition of First Republic Bank by JPMorgan Chase, several regional banks such as Pacwest and Western Alliance experienced a significant drop in their stock prices. On Tuesday afternoon, all four major U.S. benchmark stock indexes are in decline as regional bank stocks hit new lows. Banking Industry on Edge as Pacwest Shares Sink [...]

The post Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking Industry appeared first on Crypto Breaking News.

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