Gold dips under $1,800 for the first time in months

$1,800 is great if gold is going to $3,000 in 2 years.

 

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Lets hope it can!

 

Yep, it dropped again to $1783. Anyone who has a small pile, won't worry about it at all, or they shouldn't. Better, I should say I'm not concerned!

 

BitCoin is simply sucking all the "fear" investment that would go into gold.

 

Yes, BitCoin is certainly taking some of the investment action away from gold, no doubt about it!

 

It will be interesting to see if this is a fade or if this is the new reality. Maybe the bitcoin is the flashy gold for millennial's.

 

Right now the premiums to make the switch will suck up most of the profits.

 

BARRON'S had an article noting that a good portion of the BitCoin "mined" is from the region of China with human rights abuses.

 

Not Russia?

 

It's in this week's BARRON'S:

https://www.barrons.com/articles/bi...ould-be-a-red-flag-for-regulators-51613764881

 

Interesting read for sure.

 

It's never been a secret that it's the most popular in Asia, the more that have been mined the more computing power you need to do the next one

 

I haven't been tracking cryptos but how are the others like Lithcoin and Ethercoin doing. My spelling could be off.

 

Litecoin is significantly up at over 200 now, Ethereum (the second biggest one) is just about 2k now,

https://goldprice.org/cryptocurrency-price/tether-price

 

About 5 years ago I was just about ready to buy in on the Ethereuym and buy one Litecoin but I got cold feet. Too bad.

 

I wouldn't be surprised to see Ethereum continue to go up right alone with bitcoin. There's a big market gap size after that one

 

I still don't understand the "mining" part.....they solve equations and get rewarded in BitCoins ?

This is like from some Sci-Fi movie..........

 

I hear you. I imagine some dude in his mother's basement late at night checking his "mining operation" between D and D games just about ready to earn a Bitcoin when the dreaded Microsoft and Java update and reboot start and everything is lost just like a cave in in a traditional mine shaft.

 

Gold fell below $1,800 this week as the 10 year Treasury hit 1.3 percent. There’s definitely a connection there.

 

Maybe, but I doubt it. Rising rates from faster GDP growth -- and inflation -- should be good for gold.

I think BitCoin continues to suck $$$ from gold.