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‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Precious metals (PM) markets have been trading a bit higher in recent days, while cryptocurrency markets have been seeing gains as well. Spot gold prices have jumped to $1,805 per ounce, up more than 1.3% during the last 24 hours, while silver prices have increased by 2.5%. As PMs have gathered strength this week, crypto-asset markets are still inching closer toward gold’s and silver’s market valuations. In fact, bitcoin’s market capitalization is just below silver’s $1.47 trillion market.
Precious Metals Rise, But Investors See Digital Gold Eclipsing These Markets
Ever since the U.S. Federal Reserve said last week that it would allow inflation to rise moderately above the 2% mark and the central bank will also continue its monetary easing policy, crypto assets and precious metals like gold and silver have been on the rise.
Gold prices have jumped over 1.3% during the last day and as the PM has crossed the psychological $1,800 price per ounce zone on Thursday. Gold prices are a

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