Hi, Raph. Is there any chance that RMG could deviate from spot price, or is it strictly anchored to it since it is physically backed by gold grams? And do you have any insight on how the release of RMG could affect physical gold price?
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I dont know if RMG will deviate from spot price a lot, maybe there is some variance on daily basis, it is too early to make a precise analysis about this yet. I dont think the release of RMG will affect the physical gold price since all countries back their currencies in gold reserves, specially India, China. We need to watch China reaction about this, if they start to exchange or trade more RMG instead the future contract or physical gold. With the advent and increase of blockchain and cryptos, I think maybe China is exchanging gold for bitcoins little by little, but not in very large amounts yet, since there are some improvements to make on this technology yet. Even Russia is investing heavily in blockchain now, we are in a transition moment in economy with blockchain, it is too early to say that gold will be obsolete. Maybe physical gold have some costs that are higher for ordinary people, but for govs and big corporations Gold is still a safe haven. And China wants to power the CNY(chINA yUAN RENMINBI) their currency in FOREX market, and the only way is accumulating gold in my view. Also, countries like Switzerland, Germany, UK and USA will never stop to accumulate gold in my view. I dont know if my analysis is good enough to explain to you this, Im more a technical analysis trader (Charts). Hope I helped a little :)
Thank you for sharing. :)
It will be interesting to see which countries buy into RMG, and which ones create (or ask RM to create) their own versions. They've been minting other countries coins for centuries, so it's possible they could extend that service here.
RMG will be separate from the UK government, I believe, based on their FAQ answer about the potential for government confiscation.
yep, I hope so, as always, governments try to bite a lot from us :/. hope blockchain can change all this for good :-)
This is the point, who has the most Gold, who benefits from it rising to £8,000 this takes the Yanks out of it, the Chinese have more Gold than they say, this is set to price the small buyers out of the market, look at bitcoin what normal person can afford it, this is what will happen to Gold, lets see what happens but in 6 months Gold will not be held back it will be a rich mans game, sorry ladies no Pune intended
agree, maybe is better keep trading the spot CFD Gold in an UK broker, as I do. Im not particularly fan of buy physical gold, is too expensive. I prefer earn money in the fluctuations of the gold spot contract.It is quick and easy to go long or short with a margin account . I use ig.co.uk broker to trade, think they are reliable.