Barrick Gold (GOLD) Stock Plunges 6%: Should You Invest In Gold Or Bitcoin?

Today’s price is $ 1.16 less than a week ago. On Friday, the stock traded at $19.63, then declined $ 0.3. On September 13, it recovered and even popped to $ 19.67. The next day, the worth reached a weekly high of $ 19.78. However, since Tuesday the price has been plummeting. On Wednesday, it fell by 2%. On September 16, the cost dipped from $ 19.34 to $ 18.44.
President and CEO of Barrick Gold Mark Bristow said to Jim Cramer in a recent episode of Mad Money that gold is as strong as ever, despite the emergence of the monetary systems not tied to the precious metal, most recently to include cryptocurrencies. Bristow said that gold was the only way to really insure someone’s risks. According to him, bitcoin falls in value just as often as it grows, hence gold remains the only stable reserve of wealth. However, Cramer argued that precious metal and virtual currencies perform very different roles for investors, consequently, they don’t compete with each other. Both are good: gold is an insurance policy against inflation, and crypto for speculation, he said.

Robert McDowney

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