Digital currency is only good as long as you have internet. Go to a small village in Africa or colony on Mars Digital currency is nothing but garbage without any or the right tools. Coming you to tool’s you can use gold to make tools spear or arrow or just as a lump of rock that David used to hit goliath! It has use no matter how you look at it. It’s the “foundation” of any civilization.

Aug.03 — Wayne Gordon, executive director for commodities and foreign exchange at UBS Global Wealth Management, discusses the outlook for gold and gold stocks. He speaks with Tom Mackenzie and Rishaad Salamat on “Bloomberg Markets: Asia.”

A future is simply a deal to trade gold at terms (i.e. amounts and prices) decided now, but with a settlement day in the future. That means you don’t have to pay up just yet (at least not in full) and the seller doesn’t need to deliver you any gold just yet either. It’s as easy as that.

The settlement day is the day when the actual exchange takes place – i.e. when the buyer pays, and the seller delivers the gold. It’s usually up to 3 months ahead.

Most futures traders use the delay to enable them to speculate – both ways. Their intention is to sell anything they have bought, or to buy back anything they have sold, before reaching the settlement day. Then they will only have to settle their gains and losses. In this way they can trade in much larger amounts, and take bigger risks for bigger rewards, than they would be able to if they had to settle their trades as soon as dealt.

Continue reading “Gold to Rise to $2,000 by End of Sept.: UBS Global WM”

In this Alux.com video we’ll try to answer the following questions:

Can you mine asteroids?

What are asteroids made of?

Can asteroids be a source of materials?

How much is an asteroid worth?

Why are people trying to mine asteroids?

Will asteroid mining ever be profitable?

Continue reading “How Asteroid Mining Will Work”