On Thursday, March 2, 2017, gold values hit $1,237.73 per ounce. This is good news for some people, but not everyone thinks so. As gold reached this price, Bitcoin value hit $1,238.11 for a single bitcoin. This marks an historic milestone because it is the first time that Cryptocurrency has moved past the value of gold.
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U.S. Dollar Strengthening
The United States dollar is continuing to strengthen, despite a small dip last week when the dollar weakened. The dollar is expected to strengthen in upcoming weeks based on the improving economy. As long as the dollar continues to strengthen, gold values are predicted to stay down. The value of gold might even dip a bit more.
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Even though the value of gold is down slightly, the future looks promising for investors. Gold values are expected to rise before the year’s end. Even if the dollar and the U.S. economy continue to strengthen, other global factors, including traders and investors from around the world, are expected to boost gold values.
Bitcoin Values Don’t Affect Gold Prices
Even though Bitcoin surpassed gold values, this doesn’t necessarily mean much for investors. People aren’t trading in their gold to buy Bitcoins. Instead, investors are choosing to enjoy the diversification of investments. Some investors are trying their hands at Bitcoin investments based on assertions that crypto-currency is more secure than gold.
Gold is still considered the highest standard for investing markers. Shortly after Bitcoin surpassed gold, gold rallied and inched past Bitcoin. The up and down rally is likely going to continue well into the future, but the downs are expected to be very short-lived before their recoveries.
Gold Is Still a Safe Investment
Analysts assert that gold futures will continue to rally after recent losses. Jumping on board now with gold enables you to get in while the price is about as low as it is expected to drop. Even if there are more period dips, they aren’t going to last. People who are already enjoying the security of gold investments should continue watching the market for opportunities to increase the amount they have invested. Take advantage of the price changes in the market and Trade Gold and Bitcoin Online.
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