The Gold ETF (GLD) is outperforming Bitcoin (GXBT) (BTC). Gold is running about 36% better over a 50 day average compared to Bitcion… as shown on the lower panel of the stock chart below. Comments welcome.
Today, The Gold Miners Index (GDM) rally continues, and breaks through the January High of $1,090. The Gold Miners Index ETF (GDX), and others follow along. It’s interesting to note that the Bitcoin sell off continues, gaping down and breaking support levels.
The Gold Miners Index (GDM), ETF (GDX), which bottomed in March, has begun to outperform the S&P 500 Index (SPX). The S&P has been rallying along in excess of a 30% annualized rate of growth over a 200 day average.
In this post we’re using a real simple signal line – a 50 day relative strength moving average crossover. The gold miners index crossed above on the day of May 3rd. See stock chart below: