Gold Gold Daily Video, December 13, 2022

[Sive Morten]

Good morning,

Despite recent drop, Gold market has not erased intraday upside patterns, such as 3-Drive "Sell". This still keeps us aside from taking the short position right now:

 

[gpeter991]

Guys - sorry to write it here, but I wonder if you think it is possible to initiate and set up a Crypto technology based Gold price pegged instrument or index? (like an ETF but in crypto). Maybe the new generation would be interested to trade digital gold in the long term? I have read about gold ruble project. But I am thinking if there could be some global way to do it also for retail masses? not only institutionals. So that in the end there is a choice between physical gold (that I personally favor as store of value), and digital gold product that represents gold but is outside of LBMA or fiscal regimes comtrol. What do you think about it? Any experience or recommendations how to set up such project?

 

[Sive Morten]

Guys - sorry to write it here, but I wonder if you think it is possible to initiate and set up a Crypto technology based Gold price pegged instrument or index? (like an ETF but in crypto). Maybe the new generation would be interested to trade digital gold in the long term? I have read about gold ruble project. But I am thinking if there could be some global way to do it also for retail masses? not only institutionals. So that in the end there is a choice between physical gold (that I personally favor as store of value), and digital gold product that represents gold but is outside of LBMA or fiscal regimes comtrol. What do you think about it? Any experience or recommendations how to set up such project?

Hi Pit, well I haven't surf the net with this subject widely, but I definitely know that Sberbank is launching this project very soon. I do not know by far, whether it will be only for domestic users (hardly) or worldwide:

Sberbank begins issuing digital financial assets for gold. The release will be carried out on its own blockchain platform. Investors will have the opportunity to purchase an analogue of a traditional instrument, an impersonal metal account, in a convenient digital format. The gold token will allow you to receive investment income depending on the dynamics of the price of gold," the message says.

Issuing of digital gold right now is a timely measure in the changing financial landscape. Gold is a liquid investment and protective asset, investments in which are especially relevant for business in today's situation," the words of Anatoly Popov, Chairman of the Board of Sberbank, are quoted in the message.

It's in russian but you could transcribe it. I'm sure that big western banks either already has done it or will do in nearest future. In another article was told that:

"The Sberbank platform will receive technological compatibility with the ecosystem of decentralized finance (Defi) based on Ethereum. This will allow developers to freely transfer smart contracts and entire projects between the bank's blockchain network and open blockchain networks."

It means that it should be global...