La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

Gold demand increased slightly in the first quarter amid uncertain Covid-19

According to a report by the World Gold Council published on Thursday, demand for gold increased by around 1% year-on-year in the first quarter of 2020. It stood at 1,083.8 tonnes, driven by a increased demand for ETFs associated with gold.
 
Gold demand increased slightly in the first quarter amid uncertain Covid-19

Gold is considered a safe haven in times of crisis like the one the world is currently going through with the Covid-19 pandemic. Investors therefore turned to the yellow metal to secure their capital, thus compensating for the drop in demand on the consumer side. The restrictions imposed in most countries to fight the virus have indeed affected the demand for jewelry which has declined by 39% year on year.




At the same time, the institution notes, lower central bank gold purchases (-8%) and lower technological demand have limited the record increase in gold coin purchases (+ 36%). Mining production also decreased 3% year-over-year to 795.8 tonnes, its lowest level in 5 years.