Gold News: 14 August, 2020

Gold Price: $1947.01. Gold price saw biggest daily drop in 7 years.

Gold and gold-backed cryptocurrency news for the week ending 14 August, 2020.

Gold Price (USD/OZ)

14 August 2020: $1947.01 [View live gold price.]

Change from last week: -$113.87 (-5.53%)

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Gold News Around The Web

Record gold and silver trading at world No.1 on massive price swings - [BullionVault]

“Nearly $50m traded in 24 hours at BullionVault...”

“The price of gold just suffered its steepest 1-day drop since the precious metal's historic price crash of April 2013”. 

Gold price: biggest one day plunge since 2013, how low can it go? Is there an opportunity here? - [Forbes]

After a huge sell-off, here's 5 reasons gold might be down but not out - [Markets Insider]

The reason gold price saw biggest daily drop in 7 years - [Kitco]

Gold seen at $2,300 on a six-to-twelve month view – ANZ - [FX Street]

Gold could head as high as $3,400, VanEck CEO says as metal pulls back from records - [CNBC]

Gold could surge more than 90% and hit $4,000 if these two factors remain under control - [Markets Insider]

Gold's fall won't drive it below $1,700 again - [BloombergQuint]

Why gold is not a one-way bet - [Australian Financial Review]

“The risk-adjusted returns achieved by gold this year are not sustainable. Prudence is required from here.”

Gold prices could double from here - [Livewire]

Why is everyone buying gold? - [Business Standard]

Gold-backed yuan may challenge flagging dollar - [Asia Times]

“While US undermines its fast-depreciating currency China is well-poised to seize a golden opportunity.”

In India, gold-based finance is booming - [The Economist]

105-year chart: Gold price vs stocks shows bullion still cheap - [Mining]

Wiluna hedges over $110 million worth of gold at near record prices - [The West Australian]

US dollar denominated gold trade to be allowed - [The Thaiger]

“Ending decades of regulations limiting gold trade in Thailand to the baht, the US dollar will now be allowed as well. 2 weeks ago, in a bid to slow the rapidly rising baht and avoid landing on the US list of “currency manipulators”, the Bank of Thailand announced a policy to allow trading gold products in US dollars.”

Thailand tourism latest! Tourists invited to go panning for gold!

Gold-backed Crypto News

News related to gold-backed cryptocurrencies:

How to speculate on the price of gold using cryptocurrencies - [CryptoDaily]

Why gold-backed tokens are the perfect hedge - [Coinspeaker]

PAX Gold: Crypto backed by gold but outperforms gold - [Nairametrics]

Bullionix is set to drive new minting user experience with Chainlink - [Cryptomoonpress]

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