Chainlink (LINK) Gains 7% to Approach 18-Month High
Chainlink (LINK) experienced significant gains at the start of the weekend, with the token rising by as much as 7% in the day. The LINK/USD pair reached a high of $11.59 in today's session, rebounding from a low of $10.80 the previous day. These gains brought the price closer to its recent 18-month high of $11.78, which was achieved earlier in the week. The relative strength index (RSI) continues to trend upward, currently sitting at 81.68. However, there is a potential resistance level approaching at 83.00, which could lead to a reversal if not surpassed by bullish momentum.
Cardano (ADA) Climbs Towards Nine-Week High
Cardano (ADA) also made notable moves on Saturday, as it climbed closer to a recent nine-week high. After reaching a low of $0.284 on Friday, the ADA/USD pair surged to a peak of $0.2973 in today's session. This puts cardano within reach of its highest level since mid-August when it traded above $0.30. The 14-day RSI is currently above 77.00, indicating the potential entry of bears into the market. Consequently, some bulls have started securing their gains, causing ADA to trade slightly below today's peak. Will cardano reach $0.30 in November? Share your thoughts in the comments.
Frequently Asked Questions
What is the tax on gold in an IRA
The fair market value at the time of sale is what determines how much tax you pay on gold sales. You don't pay taxes when you buy gold. It is not income. If you sell it later, you'll have a taxable gain if the price goes up.
Loans can be secured with gold. Lenders look for the highest return when you borrow against assets. For gold, this means selling it. This is not always possible. They might just hold onto it. They may decide to resell it. You lose potential profits in either case.
To avoid losing money, only lend against gold if you intend to use it for collateral. You should leave it alone if you don't intend to lend against it.
How much gold should you have in your portfolio?
The amount of capital required will affect the amount you make. For a small start, $5k to $10k is a good range. As you grow, it is possible to rent desks or office space. This way, you don't have to worry about paying rent all at once. It's only one monthly payment.
Also, you need to think about the type of business that you are going to run. In my case, we charge clients between $1000-2000/month, depending on what they order. You should also consider the expected income from each client when you do this type of thing.
You won't get a monthly paycheck if you work freelance. This is because freelancers are paid. Therefore, you might only get paid one time every six months.
You need to determine what kind or income you want before you decide how much of it you will need.
I would recommend that you start with $1k-2k worth of gold and then increase your wealth.
What Precious Metals Can You Invest in for Retirement?
Silver and gold are two of the most valuable precious metals. They are both simple to purchase and sell, and they have been around for a long time. You should add them to your portfolio if you are looking to diversify.
Gold: Gold is one of man's oldest forms of currency. It is very stable and secure. It is a good way for wealth preservation during uncertain times.
Silver: Silver has been a favorite among investors for years. It's an ideal choice for those who prefer to avoid volatility. Silver, unlike gold, tends not to go down but up.
Platinum: This precious metal is also becoming more popular. It's like silver or gold in that it is durable and resistant to corrosion. It is however more expensive than its counterparts.
Rhodium: The catalytic converters use Rhodium. It is also used in jewelry-making. And, it's relatively cheap compared to other types of precious metals.
Palladium (or Palladium): Palladium can be compared to platinum, but is much more common. It's also more accessible. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
External Links
bbb.org
finance.yahoo.com
investopedia.com
- Are You a Good Candidate for a Gold IRA
- What are the Options Types, Spreads and Example. Risk Metrics
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
The best way online to buy gold or silver
You must first understand the workings of gold before you can purchase it. It is a precious metal that is very similar to platinum. It's very rare, and it is often used as money for its durability and resistance. It's hard to use, so most people prefer buying jewelry made out of it to actual bars of gold.
Two types of gold coins are available today: the legal tender type and the bullion type. Legal tender coins can be used for circulation within a country. These coins usually come in denominations such $1, $5 and $10.
Bullion coins are only minted to be used for investment purposes. Their value increases over time because of inflation.
They are not exchangeable in any currency exchange system. One example is that if someone buys $100 worth gold, they get 100 grams with a $100 value. Each dollar spent earns the buyer 1 gram gold.
When looking to buy precious metals, the next thing you should be aware of is where it can be purchased. There are several options available if your goal is to purchase gold from a dealer. First, you can visit your local coin store. Another option is to go through a reputable site like eBay. You may also be interested in buying gold through private sellers online.
Private sellers are individuals who offer to sell gold at retail or wholesale prices. You pay a commission fee between 10% and 15% for each transaction when you sell gold through private sellers. This means that you will get less back from a private seller than if you sell it through a coin shop or on eBay. However, this option is often a great choice when investing in gold since it gives you more control over the item's price.
You can also invest in gold physical. You can store physical gold much more easily than you can with paper certificates. However, it still needs to be safe. To ensure that your physical gold remains safe, you need to secure it in an impenetrable container such as a vault or safety deposit box.
When buying gold on your own, you can visit a bank or a pawnshop. A bank will provide you with a loan that allows you to purchase the amount of gold you desire. The pawnshop is a small business that allows customers to borrow money to buy items. Banks charge higher interest rates than those offered by pawn shops.
The final option is to ask someone to buy your gold! Selling gold is simple too. You can contact a company like GoldMoney.com to set up an account and receive payments right away.
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By: Eliman Dambell
Title: LINK Nears 18-Month High on Saturday, as Bulls Extend Momentum
Sourced From: news.bitcoin.com/biggest-movers-link-nears-18-month-high-on-saturday-as-bulls-extend-momentum/
Published Date: Sat, 28 Oct 2023 13:30:48 +0000
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