People & Lifestyle
Gold Trading
Gold has been a valuable resource throughout history and continues to be so today. Many people invest in gold as a way to protect their money, and there is a huge market for gold trading. If you’re interested in learning more about this fascinating topic in this blog post, we will discuss the basics of gold trading and how you can get involved in the market yourself.
Gold Trading Basics
Gold trading is the act of exchanging gold for US currency. Because of its unique position within the world’s economic and political systems, the gold market provides excellent liquidity and opportunities to make money in nearly all environments.
Some people prefer to invest in physical metal, while others choose to speculate through futures, equity, and options markets. This offers incredible leverage with measured risk. Traders can make a profit when gold prices are either increasing or decreasing in value. When the market is volatile and moving upwards, traders will buy gold. However, traders will sell their stocks to avoid loss when the market sees a decline and starts moving downwards.
Five key factors you need to know about gold prices
The five key variables that influence gold prices are the first step in investing in gold trading. Understanding what causes their assets to appreciate in value is critical to making a financial investment decision.
Demand for gold
Gold is a popular item to invest in and has been for centuries. The more people demand gold, the higher the prices will be.
The majority of the demand for gold comes from jewelry and inversion. Whether in the form of coins or bars, jewelry accounts for less than 30% of worldwide gold demand, while investment accounts for more than 50%. Industrial usage in technology products accounts for about 7% of consumption, and most of the remainder is attributed to central bank gold purchases.
Supply of gold
The amount of gold available also affects its price. If large amounts are being produced, the price will be lower than if there is a limited supply. However, due to growing difficulty and resource intensity in gold mining, primary gold production is anticipated to level off or even fall in the future. The gold price should continue to rise as demand rises and supply stays the same. Use only the Best-in-class gold IRA companies.
Inflation
When inflation rises, so does the price of gold because it takes more money to buy the same amount of goods and services.
A good way to think about this is that if you have a set amount of money today and want to purchase a gold bar tomorrow, you would need more money if there was inflation in between those two days. The price of gold would have risen along with other prices in the economy.
The value of dollar
The dollar’s value also has an inverse relationship with the price of gold. When the dollar is strong, gold prices are usually low, and when the dollar is weak, gold prices tend to be high.
This is due to the fact that when the dollar is strong, investors can purchase more assets with their currency. This means that they are less likely to want to invest in something like gold, which would require them to sell their dollars first. However, when the dollar is weak, it takes more dollars to purchase other assets. So, investors will often turn to gold as a way to preserve their purchasing power.
Geopolitical factors
In addition to economic indicators, global events such as wars or political instability can also affect gold prices. When investors feel insecure about the future, they often buy gold because it is seen as a secure investment. This increased demand drives up the price of gold.
Now that you understand what affects gold prices, you can start to make informed decisions about investing in this precious metal. Gold trading can be profitable in nearly all market environments if you understand how these five factors influence price movements. However, gold trading is an extensive topic that needs a lot of study and research, so make sure you educate yourself before diving into the market.
People & Lifestyle
‘Dubai in Accra’ set to thrill Ghanaians on Sunday, April 28
In the heart of Accra, excitement buzzes as the city eagerly anticipates the grand spectacle known as “Dubai in Accra,” set to take place this Sunday 28th April 2024 at the prestigious Stanbic Heights, Icon House Airport. (more…)
People & Lifestyle
Celebrating 25 Years: Otumfuo Osei Tutu II’s Reign
Today marks the 25th anniversary of Otumfuo Osei Tutu II’s reign as the Asantehene, the King of the Ashanti Kingdom.
Otumfuo Osei Tutu II: Celebrating 25 Years of Local and Global Impact.
Showing on @GTV_Ghana and streaming on all our social media platforms on Sunday, April 28, at 8:30PM.#Asanteman #OurCultureOurHeritage pic.twitter.com/g3u0Ql5q6i
— GTV Ghana (@GTV_Ghana) April 26, 2024
The celebrations, which began with spectacular fireworks witnessed by Otumfuo himself, will culminate in the Silver Jubilee anniversary on Akwasidaekese on June 12 at Dwabrem, Manhyia Palace.
This milestone is a testament to Otumfuo’s impactful leadership, dedication to the Asante people, and contributions to education and research as the Chancellor of KNUST.
❤️ @AkwaboahMusic meets The King of Ashanti Kingdom Otumfoc Osei Tutu II. pic.twitter.com/wdvlulV7Ez
— FELICIA OSEI (@Osei_Feliciaa) April 26, 2024
The event is being celebrated across Ghana, with well-wishes and congratulations pouring in from various quarters, highlighting the significance of this occasion for Asanteman and Ghana as a whole.
People & Lifestyle
Mr. Beast in Ghana: Surprising Visit Sparks Excitement
World-renowned YouTuber Mr. Beast, known for his philanthropic acts, has been spotted in Ghana, specifically in Accra and Tema, sparking excitement among locals.
Wow, Mr Beast is in Ghana! Look at how boys are gathering to take pictures with him. pic.twitter.com/46gawXYWnJ
— Big Kay🇬🇭 (@OfficialBigkay) April 26, 2024
His visit has led to discussions about his choice of Ghana over other African countries, with some suggesting that the country’s popularity as a tourist destination played a role.
MrBeast is in Ghana and no one is talking about it? Make I step out more times I go get new phone or car saf pic.twitter.com/AUP9CSoDoV
— Kofi Ntim (@NtimBarima) April 26, 2024
Mr. Beast’s presence in Ghana is part of his global outreach, as he recently gifted a Ghanaian $25,000 as part of his X (Twitter) giveaway.
Read Also: Producers of 'Beast of No Nation' return to filming in Ghana, causing upset in parliament
The YouTuber has been seen exploring the country and interacting with locals, with many expressing their desire to meet him and participate in his charitable endeavors.
People & Lifestyle
Stephen Appiah to contest John Dumelo and Lydia Alhassan in MP race for Ayawaso West Wuogon
Former Black Stars captain Stephen Appiah is set to enter the political fray by rubbing shoulders with notable personalities in the upcoming general elections.
The former Juventus midfielder is believed to be lacing his boots to face the likes of John Dumelo and the incumbent member of Parliament for the Ayawaso West Wuogon Constituency Lydia Alhassan.
While Dumelo and Alhassan represents the NDC and NPP respectively, Appiah is expected feature in the elections as an independent candidate.
This was revealed by the Spokesperson of the Ayew family Fiifi Tackie via X on Friday afternoon.
“Stephen Appiah to contest Ayawaso West Wuogon constituency as an independent Parliamentary candidate,” he wrote.
If Stephen Appiah affirms the reported news, he will be following in the footsteps of other renowned figures in Ghana football who have indulged in politics recently.
Earlier this year, all-time top scorer of the Black Stars Asamoah Gyan was appointed as the sub-committee chair of Youth and Sports in the campaign committee of Dr Bawumia, the flagbearer of the ruling New Patriotic Party.
In acceptance of the appointment, Gyan emphasised the need to share hos ideas garnered through experience in the game.
Anas took $100,000 to stop documentary release – Kwesi Nyantakyi
‘I have enough experience to contribute to sports – Asamoah Gyan reacts to political appointment
“I always ask myself, how do we create change if we don’t want to change? How do we spectate without being on the bench, and how do we score without being on the field?… All I know and will ever know, all I love and will ever love is SPORTS.” he stated.
Another figure in Ghana football who recently announced his intention to engage in partisan politics is Kwesi Nyantakyi, former Ghana Football Association (GFA).
The former football administrator showed up as one of the candidates to contest in the NPP primaries for the Ejisu constituency following the demise of incumbent John Kumah.
However, it didn’t pan out well for the former Wa All Stars owner as he lost disappointingly.
He garnered a paltry 35 votes after close to 1,081 delegates had cast their votes in the parliamentary primary of the New Patriotic Party (NPP) held in the Ejisu Constituency on April 13.
People & Lifestyle
Rebecca Osam: A Champion for Women’s Empowerment in Africa
In a heartfelt social media post, Rebecca Osam, Managing Director of Reflo Company Limited, Reflo’s TV, and Femme Fatale Productions Limited, has pledged her full commitment to empowering young women.
Rebecca expressed her desire to move beyond mere inspiration and instead build a deeper connection with young women, offering guidance and support to help them achieve their goals.
Her passion for women’s empowerment stems from her experiences growing up in Africa, where she witnessed firsthand the oppression and lack of opportunities faced by women. This drove her to co-found The Florence Mensah Foundation with her mother, aiming to empower African women and girls, and encourage them to recognise their worth, strength, and potential.
Through her foundation and personal endeavors, Rebecca seeks to provide a supportive platform for young women to thrive. She aims to be a relatable figure, offering mentorship and encouragement to help them overcome challenges and achieve success on their own terms.
Rebecca’s dedication to empowering young women proves her leadership and commitment to creating positive change in her community. Her efforts serve as an inspiration to others, highlighting the impact one person can have in driving gender equality and women’s empowerment.
As Rebecca continues her work, her message resonates with young women across Africa: “Anything is possible, and I am here to support and cheer you on every step of the way.”
People & Lifestyle
Caradise Ghana Car Rental Facilitates Transportation for Global Christian Forum held in Accra
Caradise Ghana Car Rental has once again successfully facilitated the transportation of over 240 participants from 60 countries across the globe for the recently ended Global Christian Forum in Accra, Ghana.
Numerous buses hauled the various participants from the Airport to their designated hotels from the 12th to 15th of April, 2024. Participants were then transported from their hotels to the conference grounds daily for the gathering of devoted Christians from the 16th to the 19th of April, 2024.
The forum began with a vibrant, joyful worship service held at Accra Ridge Church. The Rev. Dr. Casely Essamuah welcomed participants to Ghana and to the Fourth Global Gathering, and participants spent the day sharing their faith stories with one another across the litany of differences represented.
The forum was climaxed with a dinner and 25th anniversary celebration at the Action Chapel Internation Church hosted by Archbishop Nicholas Duncan-Williams.
After the forum, the participants took the opportunity to visit the Kwame Nkrumah Memorial Park and Mausoleum where they learnt about the great Pan-Africanist, Osagyefo Dr. Kwame Nkrumah and Ghana’s journey to inpendence.
The participants also spent a day in Cape Coast where they learnt about the millions of enslaved, dehumanised African men, women, and children at the Cape Coast Castle. Witnessing first hand how Africans were forcibly taken captive to the Americas, Caribbean, and Europe as objects of lucrative trade.
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