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Gold and bitcoin fuel demand for each other in India

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Chris Powell

GATA

Published : July 27th, 2014

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FOLLOW : Bitcoin Gold India Market

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	By the Press Trust of India via Business Standard, New Delhi Sunday, July 27, 2014 http://www.business-standard.com/article/pti-...r-bitcoin-ne... In a fresh possible headache for regulators, including in India, "gold for bitcoin" trades are emerging as a new fad in the world of anonymous transactions, fueling further the appetite for virtual currencies. This comes at a time when the count of virtual currencies available in the market is fast moving closer to the 500 mark, although the price of top-ranked bitcoin has begun showing signs of stability at around $500-$600 level after remaining highly volatile for most part of its half a decade existence.

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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