The Dollar Index—a measure of the U.S. currency's value versus its major peers—edged higher yesterday after dipping to its lowest level this year in the previous session. Meanwhile, ten-year U.S. Treasury yields—a benchmark rate for government, as well as many finance and commercial borrowing—also edged higher after hitting their lowest level since August 5, when recession fears in the world's biggest economy dragged down global stocks.
“The risk of consolidation or even a correction looms (for Gold),” said the latest report of derivatives platform Saxo Bank's Strategy Team.
“With the price action showing signs of exhaustion following the latest rally to fresh records, not least given yesterday’s muted response to weaker U.S. job growth and FOMC minutes almost confirming a September rate cut.”
“Gains in the precious metal were muted by weak physical demand in China,” said Daniel Hynes, Senior Commodity Strategist at ANZ.
The Case for Gold and Silver Over USD-Based Stablecoins
While USD-based stablecoins offer the convenience of digital assets pegged to the value of the U.S. Dollar, they inherently carry the risk associated with the USD's performance. As seen with the recent decline in the USD Index, relying solely on USD-based assets can expose investors to volatility and potential devaluation.
Gold and silver, on the other hand, have a long-standing reputation as safe-haven assets. They provide intrinsic value and have historically served as a hedge against inflation and currency devaluation. By investing in our gold-backed (AUS) and silver-backed (AGS) tokens, you gain the benefits of precious metals while leveraging the flexibility and security of blockchain technology.
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