Gold Sales Spike During Crypto Market Crash, Highlighting Inverse Correlation
From Cointelegraph
Daniel Marburger, Director of Europe-based online gold dealer CoinInvest, claimed the company sold about 30 kilograms of gold, worth over $1 mln, in just one day, Jan. 16, in an interview with Bloomberg Wednesday, Jan. 17.Read more: https://cointelegraph.com/news/gold-sales-spike-during-crypto-market-crash-highlighting-inverse-correlationThis week has been very volatile for Bitcoin and several industry insiders cited by Bloomberg believe that investors are looking for more stable assets in the meantime. Bitcoin, along with most other cryptocurrencies, experienced a crash of over 40% this Tuesday, Jan. 16 that lasted until Jan. 18, potentially causing a spike in gold investment.
Marburger told Bloomberg that gold coin sales increased fivefold on Jan. 16, the same time cryptocurrencies were crashing.
“[Tuesday] was a hell of a crazy day,” Marburger said, adding that “emails and phones did not stand still with customers asking how they could turn their crypto into gold.”
I've been thinking of buying a 1oz gold bar just to have and look at. More of a novelty investment. Does anyone know if there are certain things to look out for? What is an acceptable markup when purchasing physical gold bars? Obviously I'm not going to get spot market pricing at retail but I don't want to get ripped off.
Leave your thoughts in the comments below.
Follow @contentjunkie to stay up to date on more great posts like this one.
I have bought a lot of silver and some gold coins lately. I mostly buy coins where I like the design, and it is a well known series (for example Lunar series by Pert Mint) with not too high mintage. Not rocket science really. I am actually thinking about buying this one:
https://www.apmex.com/product/160183/2017-barbados-1-oz-gold-trident-bu. 49.99 over spot. Cheaper if you pay with BTC though.
For 1oz gold coin you shouldn’t pay more then $50.00 markup. For 1oz gold bar you can pay as little as $20.00 markup. Sometimes they have a promotion. I recommend United States Gold Bureau. They have free shipping and 100% free insurance for entire order. I definately don’t recommend buying on eBay or pawnshop. I hope this helped.
Some of the information was unknown thanks
Gold will probably rise further, not only because of an unstable crypto market. The Dollar weakens as well, so many investors will put their money into save heaven gold. 1500 and more will be easily possible when
it breaks above a long term weekly trend:
That means higher prices for physical gold, too.
So now would be a good time to get gold in my opinion :)
Forget all the FUD and Diversify, Diversify, Diversify....not rocket science
Excelente, pero confió también que las criptomonedas pronto también comenzaran nuevamente al alza, las mayorías de las criptomonedas tienen un gran futuro, al igual que el oro.
Makes sense right? The traditional versus the digital economy, a very polarized economy comparison. Once gold fails which most perceive it to, the golden age of cryptocurrency will be officially bestowed upon us whether we like it or not.
Its not surprising that gold and Cryptos have inverse correlation. It was much evident when gold sales went down when Cryptos were on a bulls run.
It also has an inverse correlation with real estate.
Sneaky Ninja Attack! You have been defended with a 7.28% vote... I was summoned by @contentjunkie! I have done their bidding and now I will vanish...Whoosh
hello dear your poste is very important for me i give you up vote & FLOW YOU GIVE ME UP VOTE FLOW & RESTIME MY POST BECOUS YOU & ME ALL ARE STEEMIT WORKER
https://steemit.com/picture/@thawfiqur/picture-ar-passi-na-dilam-aita