You are here

Bitcoin may be biggest challenge yet to gold and silver

Section: Daily Dispatches

By Mark DeCambre, New York
Friday, November 3, 2017

Is bitcoin knocking some of the shine off gold?

Bitcoin's break above $7,300 on Thursday comes as gold futures have made curious moves, mostly trading sideways, despite weakness in the currency that underpins it -- the U.S. dollar -- and a downturn in bond yields. That raises a key question: Is the world's No. 1 digital currency luring away traditional investors in gold, which boasts an unrivaled history as a store of value?

Some commodity experts think there may be some merit to that idea -- at least in the near term.

"Bitcoin is preventing gold prices from a rise," Chintan Karnani, chief market analyst at Insignia Consultants in New Delhi, told MarketWatch. ...

"Short-term investors are investing in bitcoin," Karnani said, based on his conversations with clients and other industry participants. However, he expected profits from bitcoin to be invested in gold for the long term. "Bitcoin is yet to catch up in a big way in India, China, or Asia. Asians are buying gold," Karnani said. ...

... For the remainder of the report:


We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at:

Join GATA here:

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: