As the novel coronavirus continues its rampage all over the world, the search for investment opportunities continues. Based on the current prices, focusing on gold – and more specifically digital gold – is the main option to keep an eye on.
Investors Aren’t Giving up on Gold
Despite facing some setbacks in the price department, the gold price isn’t doing all that bad. It seems to hold its own near the $1,500 mark without too many problems, albeit recovering some lost value will not come easy either.
While the market remains rather unpredictable, investors are not giving up. If the opinion of UBS Group AG’s Wayne Gordon is to be believed, now is perhaps the best time to buy the world’s leading precious metal. Gordon shared this opinion earlier this week. When one of the world’s leading wealth managers is bullish on gold, interesting things are bound to happen.
In fact, Gordon seems to believe that gold prices will appreciate over the next two fiscal quarters. An interesting opinion, considering how the market noted losses for two weeks in a row. It is the first time since September of 2019 that such losses have been recorded. That is only normal, as all markets continue to record losses.
That said, the ongoing volatility for risk assets may force traders to diversify. Gold still provides a store of value, up to a certain extent. During this time of crisis, it is still one of the most liquid markets globally. That in itself makes it worthwhile to keep an eye on at all times. Long-term investors will not be too worried about the recent change in momentum.
Digital Gold to Counter a Weakening Dollar
In this modern day and age, buying gold digitally makes perfect sense. It is a modern solution for the modern era. Platforms such as Vaultoro and Bar9 provide convenient exposure to this precious asset. On Vaultoro, it is even possible to trade between gold and Bitcoin, giving traders an option to tap into the best of both worlds.
One thing to keep in mind is how the US Dollar is likely to keep weakening. Additional quantitative easing by the Fed will undoubtedly result in a weaker dollar over the next 12 months. The downside to proving unlimited liquidity is how it affects the existing supply. Now is the time to make the most of one’s Dollar holdings and look toward the future.