Chainlink (LINK) Gains 7% as Price Surges
Chainlink (LINK) experienced significant gains at the start of the weekend, with the token rising by as much as 7% during the day.
The LINK/USD pair reached a high of $11.59 earlier in today's session, recovering from a low of $10.80 the day before.
These gains bring the price closer to its recent 18-month high of $11.78, achieved earlier this week.
The relative strength index (RSI) continues to trend upward, currently sitting at 81.68.
If bulls fail to break through the resistance at the 83.00 mark, a reversal in price may occur.
Cardano (ADA) Climbs Towards Nine-Week High
Cardano (ADA) also made significant moves on Saturday, approaching a recent nine-week high.
After reaching a low of $0.284 on Friday, ADA/USD surged to a peak of $0.2973 earlier in today's session.
This surge brings Cardano closer to its highest level since mid-August, when it traded above $0.30.
The 14-day RSI is currently above 77.00, which may prompt some bears to enter the market.
As a result, a few bulls have started securing gains, causing ADA to trade slightly below today's peak.
Will Cardano reach $0.30 in November? Share your thoughts in the comments.
Frequently Asked Questions
Should You Purchase Gold?
Gold was considered a safety net for investors during times of economic turmoil in the past. However, today many people are turning away from traditional investments such as stocks and bonds and instead looking toward precious metals such as gold.
The gold price has been in an upward trend for the past few years, but it remains relatively low compared with other commodities like silver or oil.
Experts believe this could change soon. They believe gold prices could increase dramatically if there is another global financial crises.
They also mention that gold is becoming more popular due to its perceived worth and potential return.
Consider these things if you are thinking of investing in gold.
- Consider whether you will actually need the money that you are saving for retirement. It's possible to save for retirement without putting your savings into gold. That said, gold does provide an additional layer of protection when you reach retirement age.
- Second, you need to be clear about what you are buying before you decide to buy gold. Each offers varying levels of flexibility and security.
- Keep in mind that gold may not be as secure as a bank deposit. You may lose your gold coins and never be able to recover them.
So, if you're thinking about buying gold, make sure you do your research first. You should also ensure that you do everything you can to protect your gold.
How is gold taxed within an IRA?
The fair value of gold sold to determines the price at which tax is due. You don't pay taxes when you buy gold. It's not considered income. If you decide to sell it later, there will be a taxable gain if its price rises.
Loans can be secured with gold. When you borrow against your assets, lenders try to find the highest return possible. In the case of gold, this usually means selling it. It's not guaranteed that the lender will do it. They might keep it. They might decide that they want to resell it. Either way, you lose potential profit.
In order to avoid losing your money, only lend against your precious metal if you plan to use it to secure other collateral. It's better to keep it alone.
How Does Gold Perform as an Investment?
The price of gold fluctuates based on supply and demand. It is also affected negatively by interest rates.
Due to the limited supply of gold, prices for gold are highly volatile. Physical gold is not always in stock.
Statistics
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
External Links
irs.gov
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- How do you keep your IRA Gold at Home? It's not exactly legal – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement accounts
finance.yahoo.com
How To
The best place online to buy silver and gold
To buy gold, you must first understand how it works. The precious metal gold is similar to platinum. Because of its resistance to corrosion and durability, it is very rare. It's hard to use, so most people prefer buying jewelry made out of it to actual bars of gold.
There are two types currently available: legal tender and bullion. The legal tender coins are issued for circulation in a country. They usually have denominations such as $1, $5, $10, and so on.
Bullion coins are minted for investment purposes only, and their values increase over time due to inflation.
They cannot be used in currency exchanges. If a person purchases $100 worth of gold, 100 grams of the gold will be given to him/her. The $100 value is $100. Every dollar spent on gold purchases, the buyer receives one gram of gold.
You should also know where to buy your gold. There are a few options if you wish to buy gold directly from a dealer. First, your local currency shop is a good place to start. You can also try going through a reputable website like eBay. You can also purchase gold through private online sellers.
Private sellers are individuals who offer to sell gold at retail or wholesale prices. Private sellers typically charge 10% to 15% commission on each transaction. Private sellers will typically get you less than a coin shop, eBay or other online retailers. This option is often a great one for investors in gold, as it gives you greater control over the item's value.
You can also invest in gold physical. It is easier to store physical gold than paper certificates. But, you still have to take care of it. To ensure that your physical gold remains safe, you need to secure it in an impenetrable container such as a vault or safety deposit box.
If you are looking to purchase gold on your own, you have two options: a bank or an pawnshop. A bank can provide you with a loan to cover the amount you wish to invest in gold. Small establishments that allow customers to borrow money for items they have brought are called pawnshops. Banks charge higher interest rates than those offered by pawn shops.
Finally, another way to buy gold is to simply ask someone else to do it! Selling gold is easy too. It is easy to sell gold by contacting a company like GoldMoney.com. You can create a simple account immediately and begin receiving payments.
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By: Eliman Dambell
Title: Chainlink (LINK) Approaches 18-Month High as Bulls Extend Momentum
Sourced From: news.bitcoin.com/biggest-movers-link-nears-18-month-high-on-saturday-as-bulls-extend-momentum/
Published Date: Sat, 28 Oct 2023 13:30:48 +0000
