The Bitcoin / Gold pair rebounded perfectly off resistance (the election and liberation day marked the other lows)...
Source: zerohedge
JP Morgan: “After taking 12 years to double from $1,000 to $2,000 (2008–2020), gold doubled again in just 5 years, crossing $4,000 this month.
The move from $3,000 to $4,000 took ~200 days — and from $3,300 to $4,300 only ~60.” Source: The Market Ear, JPM
Gold to Silver ratio through history
Source: Ali C on X
Goldman's gold forecast
"We remains structurally bullish on gold, and still see upside risk to our 4,900/toz End-2026 forecast" Source: zerohedge
Goldman on gold's Tuesday flush:
"The best answer we have for the largest % move in 10 years is (simply) positioning, and that we’ve rallied for 9 consecutive weeks. The ease of trading an ETF for quick exposure has been on full display; as of [Tuesday's] close $GLD accounted for 8% of all notional US-listed ETF volumes, its largest share of activity in our dataset. Flows on the ETF desks skewed (unsurprisingly) strongly better for sale today". Source: Neil Sethi
🟢 BTC +3% 🔴 GOLD −6%
Some rotation from gold into bitcoin? Source: Trend Spider
Gold is giving us a lesson in statistics. Yesterday's −5.7% move is a rare 4.46-sigma move.
In a “normal” world, that’s once every 240,000 trading days. In reality −4.67% to −6.00% occurred 34 times since 1971, i.e. in 13,088 trading days (0.26% = 1 in 385 days). Even bigger drawdowns happened 21 times since 1971. Message: Gold is NOT low-vol. FOMO caused the latest leg up. Now, profit taking and weak hands got shaken out. Means? Statistically speaking, chances are that calmer days are ahead. Source: Alexander Stahel 🌻@BurggrabenH on X
In gold terms, the S&P 500 is down nearly 30% so far this year.
The decline is about to surpass 2008 as the worst year for the index in gold terms in over two decades. Source: Tavi Costa, Bloomberg
