Funding & Business
Bitcoin Won't Save You When Market is Down: Psarofagis
Bloomberg Intelligence reporter Athanasios Psarofagis says gold offers steadier protection on days the S&P is down, while Bitcoin delivers fewer hits but greater return potential on up days. He explains more with Scarlet Fu, Katie Greifeld and Eric Balchunas on “ETF IQ.”
(Source: Bloomberg)
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The People’s Bank of China increased its gold holdings in August for a 10th month, in a continued push to diversify its reserves away from US dollars.
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President Luiz Inacio Lula da Silva said Brazil is capable of governing itself without foreign interference, and criticized local politicians who are encouraging “attacks” on the nation.
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An expected move by the world’s top oil-producing nations to once again increase output will set the tone for Asia’s biggest gathering of oil executives this week in Singapore, with chatter about looming oversupply certain to dominate conversations.
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