Gold Prices: Is Bitcoin Taking Interest Away?

Wow, headlines about gold prices are all over the place this morning.  Some say gold is falling off a cliff, while others see gold as firming up.  

Almost everyone is now following The Gold Enthusiast’s lead from last month and saying Bitcoin is taking interest away from gold. No matter how you slice it, people are still interested in gold. The real questions are whether that interest translates into buys, and when.

Your Gold Enthusiast thinks yes, but not soon. We may have to wait until there’s a shock to the Bitcoin system, or a correction in the stock market, before we see anything like a flood of money coming into gold.

 Today’s feature article pretty much echoes The Gold Enthusiast’s current view.

 Related: Why Isn’t Gold Going Up? This Answer May Surprise You. 

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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