CME Group, the Chicago-based exchange operator, said this week that it is aiming to launch a futures contract based on bitcoin by year-end, which could make it as easy to buy bitcoin futures as it is to buy gold or oil futures. That is raising questions about whether this downturn in the gold retail business could be more serious and last longer than previous downturns. Some small investors who used to buy gold coins, jewelry or watches are getting gold exposure through exchange-traded funds, which are much easier to buy and sell. Sales of gold coins and bars soared during the financial crisis, when the metal reasserted its safe-haven status. In both 2009 and 2010, sales of American Eagle gold coins were more than four times sales this year by November, according to the U.S. Mint.

Source: Wall Street Journal November 01, 2017 09:30 UTC