How have the mining stocks represented by ASA (a closed-end precious metals and mining fund) fared compared to being in physical metals over the past twenty years?
I thought it may be interesting to have a look at the Bitcoin to Gold relationship as it stands now. I have often voiced my opinion that gold and bitcoin easily and comfortably live together, each fulfilling its own purpose in the system.
Utilizing the cup and handle formation on the monthly chart of gold, built up since 2012, and projecting the depth of the cup using the right shoulder of the formation, gives us a dollar value of approximately $1,000.00 added to the top horizontal green line of $2,000.00, giving us a projected price of about $3,000.00. As always, this represents the what, and the when is always the really difficult part to predict.
The last two weeks of 2022 were a real head scratcher for me as the prices of gold and silver were increasing while the gold and silver stocks were languishing or falling. I can only put this down to large portfolio holders rebalancing or selling losing positions for taxation purposes.
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