What were the key factors driving the performance of gold futures in 2017 and how did they relate to the world of digital currencies?

1 answers

• Mar 12, 2022 · 3 years ago
  As a representative from BYDFi, I can provide some insights into the relationship between gold futures and digital currencies in 2017. The performance of gold futures was primarily driven by geopolitical tensions, economic uncertainties, and inflation concerns. These factors led to increased demand for gold as a safe-haven asset, which positively impacted the performance of gold futures. In terms of digital currencies, the rise of cryptocurrencies like Bitcoin did create some competition for gold as an investment option. However, it's important to note that gold and digital currencies serve different purposes and cater to different investor preferences. While some investors may have shifted their focus to digital currencies, there are still many who value the stability and long-term track record of gold. Therefore, the impact of digital currencies on the performance of gold futures in 2017 might have been limited.
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