By Charlotte Mathews
Cryptocurrencies are still too peripheral to present a threat to global economic stability. Writing in Forbes in September, Jason Bloomberg, president of digital industry analyst Intellyx, speculated that the probability of a bitcoin implosion affecting the global economy is 1%.
While bitcoin and its imitators may keep powering ahead for a while, forecasts for gold for the coming year are not ambitious. As 2017 drew to a close, gold was showing an 11% gain on 2016 but only slowly recovering from a tumble in November brought on by renewed fears that the US Federal Reserve would hike interest rates more aggressively than previously expected. High US interest rates attract money from gold to US treasury bonds.
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