/ 06 December 2023

Back to the future/classics

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Here’s one for you – the price of gold is at an all-time high, currently selling at over US$2,000 per ounce. In Aussie measurements, that’s about $3,030 for 28g… The reason is that gold is seen as a safe investment in times of economic uncertainty, and prices leapt after the 7 October invasion of Israel by Hamas. Also buoying the price – and the price of other investments – was a speech by America’s central banker Jerome Powell, who suggested that interest rate hikes in the US might be finished. Riding an upward trajectory as well is Bitcoin, on hopes that US regulators are about to approve exchange-traded funds (ETFs) linked to the cryptocurrency… ETFs can be traded like stocks (a.k.a. with normal brokers and not on questionable crypto exchanges), which Bitcoin enthusiasts reckon might bring more people to invest in the digital money. Insert chin-scratching emoji… 

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