The price of gold (XAU) has soared to record highs this year, despite the fact that the factors which usually drive the price of gold would suggest that the price should be declining.
As Christmas and the New Year approaches, pour yourself a glass of Bailey’s (or perhaps something more expensive if you’re one of this year’s crypto winners) and look back at some of the winners and losers of 2021.
Until now, revenue amassed from the trading or investment in gold was speculative and subject to market fluctuations. Kinesis offers a competitive alternative, with a yield-sharing model that allows participants to increase their holdings of gold and silver, by paying a yield of 15% of overall transaction costs back to them each month.
Usually, we would expect increased inflation to drive up the price of gold. Gold is, after all, traditionally considered to be a hedge against inflation.
There are real fears that these added costs may be passed onto consumers before long. But central banks all seem incredibly reluctant to raise interest rates. This decision is hitting both consumers and savers hard.
Glint adds that this landmark demonstrates the huge consumer appetite for alternative currencies such as gold and cryptocurrencies, including Bitcoin. The value of total transactions processed by Glint has jumped 16% in three months, from $215.5m at the end of March to over $250m.
Glint has enjoyed rapid growth over the last six months, with a 32% increase in new clients looking to spend and save gold – hitting 82,900 clients in June, up from 62,900 at the start of the year.
Alternative currencies are soaring in popularity as Glint, the global gold-based payments system that allows clients to securely save, send and spend multiple currencies including real gold, has announced a new simultaneous crowdfunding round in both the UK and the US.
‘Real’ assets such as gold, infrastructure and property provide some protection against inflation and, in the case of gold, also some protection against big risk-off moves.
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