Posted March 04, 2020 10:31:00If you haven’t heard, there will be a $100 coin next week.
The price of gold, silver and other precious metals will skyrocket next week as the bubble bursts and gold prices will soar.
According to the Bloomberg Billionaires Index, which tracks the price of financial assets worldwide, the price increase for the first time this year is greater than the 10-year average.
This is a “new record” that is higher than any other bull market since 2000, according to the index.
The index shows a 20 percent jump in the price for gold, from $1,543 per ounce to $2,056 per ounce on March 4.
The gold price rose 20 percent this week.
The benchmark 10-month price of silver, a precious metal that has been on a downward trend for years, rose 1 percent, to $1.847 per ounce.
Gold and silver prices are soaring due to the demand for the precious metals as the price will rise even higher when a Chinese ban on the trade in gold and silver is lifted.
The bull market in gold has created a huge opportunity for investors, as the dollar and the euro are trading at near parity with one another, while the Chinese yuan is at a record low of around 12.5 percent.
The value of the U.S. dollar is also in a free fall, falling by more than 10 percent to a three-month low.
The global markets are showing signs of a cooling trend in China, where the government is cracking down on trade and capital flows.
The Shanghai Composite Index fell more than 20 percent on Thursday, closing in the lower half of a 52-week low.
Gold prices have been surging since the election of Donald Trump, who is proposing sweeping tax cuts, massive infrastructure spending and a major overhaul of the tax code.
BloombergGold, silver, and other assets that were once seen as safe haven are now at risk.
Many gold investors are buying gold at its lowest price since 2008 as the U, S., and European central banks and central banks in Asia, Africa and Latin America raise interest rates.
The Chinese yuan fell 0.7 percent to 6.23 per dollar.
The euro fell 0,4 percent to $0.846.
The S&P 500 index, which is closely watched for the strength of the economy, was down 0.4 percent at 2,907.21.
In a sign of the financial crisis in the United States, the Dow Jones Industrial Average was down 4.4 points, or 0.5%, at 20,853.55.
The Nasdaq composite index was down 6.7 points, dropping 1.3 percent.
Investors are buying silver because it’s cheaper, safer and has a higher yield than gold.
Silver futures fell more broadly, falling 3.6 percent at $2.739 per ounce in New York.
Gold fell 5.6 cents, or 1.5%.