Gold Digger: Instos pour back into gold as Bitcoin loses spark

Are large Bitcoin investors moving back into precious metals?

In a note to clients, JPMorgan said large institutional investors are dumping bitcoin in favour of gold, reversing a trend that’s played out over the last two quarters.

“The bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors,” JPMorgan wrote in a note to clients.

“Over the past month, bitcoin futures markets experienced their steepest and more sustained liquidation since the bitcoin ascent started last October.”

As crypto fell into the abyss the international gold price rose to almost $US1,900 per ounce on Thursday, the highest since January 11.

Here’s a chart showing the relative strength index (RSI) of spot gold over the past year, which is ‘hot’ (RSI over 70) for the first time since January:

Meanwhile, the top performing ETFs this week, among those screened by MarketWatch, are those for gold and silver miners.

The ETFMG Prime Junior Silver Miners ETF is up 8.75% over the past 5 days, while the VanEck Vectors Junior Gold Miners ETF has gained 8% over the same period.

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop

CODECOMPANY1 WEEK CHANGE %1 MONTH CHANGE %6 MONTH CHANGE %1 YEAR CHANGE %PRICE MARKET CAP
GNMGreat Northern13811161110.019 $ 20,553,866.59
PURPursuit Minerals55-148519400.076 $ 55,136,918.88
VRCVolt Resources54673003000.04 $ 90,452,467.84
MSRManas Resources4354431500.01 $ 19,321,915.19
OZMOzaurum Resources4160.19 $ 10,404,000.00
CDTCastle Minerals3827271060.0165 $ 10,255,011.45
PNXPNX Metals291313290.009 $ 32,869,741.60
WRMWhite Rock Minerals26-923230.555 $ 48,792,731.66
KAUKaiser Reef26-6-2300.315 $ 31,946,756.82
RDSRedstone Resources252502000.015 $ 10,784,985.95
GIBGibb River Diamonds2410-49970.077 $ 15,651,698.93
FFXFirefinch24582214600.465 $ 380,305,122.89
ADNAndromeda Metals22-15-302950.225 $ 496,967,400.21
ENREncounter Resources2160460.175 $ 42,601,099.91
MTCMetalstech2011-25-60.15 $ 22,303,557.51
PF1Pathfinder Resources2032780.33 $ 16,408,982.70
TMZThomson Resources19555510080.155 $ 69,071,626.50
SVLSilver Mines1829451150.29 $ 351,308,176.33
AGGAngloGold Ashanti17199-226.67 $ 586,987,093.70
PRXProdigy Gold1318-2130.053 $ 30,192,635.51
OKUOklo Resources170-38-530.14 $ 70,564,173.68
SIHSihayo Gold17-7-36-30.014 $ 51,596,459.78
EM2Eagle Mountain16112327481.145 $ 231,459,924.88
PKOPeako1619723190.043 $ 8,258,329.61
OBMOra Banda Mining16-12-28-10.22 $ 197,922,159.90
MGVMusgrave Minerals161711610.405 $ 215,955,294.35
SNGSiren Gold16-35-520.26 $ 14,890,724.16
AGCAGC15-120.15 $ 10,159,092.60
MOHMoho Resources156-23250.085 $ 8,468,582.96
MRZMont Royal Resources142220640.36 $ 13,067,466.68
VKAViking Mines14-16853620.032 $ 33,701,528.22
GBZGBM Resources144-27870.12 $ 56,292,347.80
MTHMithril Resources14-6-38780.016 $ 37,603,728.66
FFRFirefly Resources1420-313040.12 $ 35,344,045.95
KCNKingsgate131371110.93 $ 205,865,605.40
RMXRed Mount Mining13-18-361250.009 $ 11,261,902.40
KZRKalamazoo Resources123-14-230.46 $ 63,331,888.32
BMOBastion Minerals12-50.19 $ 10,916,309.40
FAUFirst Au1227-21900.019 $ 11,677,946.33
AUCAusgold12-6-142430.048 $ 74,511,428.43
PRUPerseus Mining1121381.335 $ 1,631,187,637.10
PRSProspech1120000.15 $ 9,753,088.35
ANXAnax Metals11301135000.1 $ 34,318,021.22
BATBattery Minerals11-5-173000.02 $ 40,825,470.82
AAJAruma Resources11-1-31370.072 $ 7,629,186.74
WMXWiluna Mining118-36-91.095 $ 135,681,668.95
TIETietto Minerals107-16-90.32 $ 145,979,345.92
WAFWest African Resources10616361.08 $ 962,522,183.75
ADVArdiden10-35-522140.011 $ 23,642,896.38
TMXTerrain Minerals100-8830.011 $ 8,093,371.10
AGSAlliance Resources100-270.17 $ 31,202,570.10
KTAKrakatoa Resources1013-14890.068 $ 18,968,600.00
SSRSSR Mining1015-623.71 $ 448,851,504.00
AMGAusmex Mining9-151290.047 $ 25,497,605.83
LEXLefroy Exploration9-233654001 $ 106,208,555.30
AUTAuteco Minerals92-14670.095 $ 152,016,356.79
SRNSurefire Resources9-11-275000.024 $ 26,331,849.84
DLCDelecta90-1400.006 $ 6,051,727.23
MCTMetalicity9-14-433000.012 $ 19,687,954.78
CTOCitigold Corp9-8-141400.012 $ 33,360,000.00
TTMTitan Minerals9254440.125 $ 142,431,554.25
MVLMarvel Gold92-161100.051 $ 26,449,491.02
M2RMiramar8-17-430.195 $ 8,445,504.00
DCXDiscovex Resources8-78630.0065 $ 17,980,648.53
GSMGolden State Mining84-44-230.135 $ 10,343,544.75
DEGDe Grey Mining818373011.565 $ 2,013,041,255.16
VANVango Mining8-8-3-420.07 $ 73,364,853.87
CAICalidus Resources80-25200.42 $ 165,509,755.11
RMSRamelius Resources885101.89 $ 1,579,193,496.04
DTMDart Mining715-121770.15 $ 14,991,821.40
GORGold Road Resources71213-191.44 $ 1,264,063,715.53
SKYSKY Metals70-23-640.155 $ 38,230,723.34
ADTAdriatic Metals76111082.48 $ 470,984,673.60
CHNChalice Mining7251135317.83 $ 2,683,595,008.24
PNRPantoro71524420.235 $ 330,973,583.58
ALYAlchemy Resources613-11240.017 $ 12,100,382.15
KAIKairos Minerals613-151140.034 $ 53,646,109.57
NSTNorthern Star6-1-20-2211.25 $ 13,042,190,637.99
BC8Black Cat Syndicate6-14740.7375 $ 103,333,983.83
RSGResolute Mining619-19-460.62 $ 667,855,087.13
BCNBeacon Minerals63850.036 $ 130,798,704.29
WGXWestgold Resources6-5-7-42.19 $ 919,765,935.90
BRBBreaker Resources6-210-300.19 $ 60,280,571.87
HCHHot Chili6-10-22900.038 $ 114,181,808.82
NXMNexus Minerals67-41790.095 $ 23,438,560.42
CSTCastile Resources5187900.295 $ 56,917,384.49
THRThor Mining54302330.02 $ 10,595,640.66
AXEArcher Materials5-1933600.705 $ 155,965,216.74
EVNEvolution Mining58-6-165.125 $ 8,902,155,512.85
M24Mamba Exploration5-220.21 $ 7,770,000.00
ALKAlkane Resources513-1040.86 $ 512,034,368.00
SPQSuperior Resources5-4-282070.0115 $ 15,885,361.60
IVRInvestigator Res511563600.092 $ 121,803,087.84
OAUOra Gold Limited440260.024 $ 20,210,285.33
BDCBardoc Gold4-1-6-190.073 $ 123,203,273.70
AQIAlicanto Minerals49-14640.125 $ 40,983,432.63
NMLNavarre Minerals4-11-48-170.125 $ 71,011,479.63
ARLArdea Resources4-56890.5 $ 61,281,879.36
BGLBellevue Gold4-9-30310.89 $ 762,088,277.07
TRMTruscott Mining Corp424302250.026 $ 3,326,480.14
MEIMeteoric Resources4-2-71620.055 $ 72,313,534.65
NVANova Minerals4-9-362090.145 $ 233,792,530.58
HRNHorizon Gold4691300.435 $ 46,411,026.96
AMIAurelia Metals3-9-3350.4125 $ 493,895,950.00
IPTImpact Minerals3-18-25270.0165 $ 30,356,923.79
SFMSanta Fe Minerals30-9850.1 $ 7,281,878.90
PGDPeregrine Gold3260.34 $ 9,439,036.75
RXLRox Resources3-11-35210.034 $ 80,379,882.02
BNRBulletin Res3-1-510.071 $ 12,729,808.25
KCCKincora Copper3270.355 $ 25,178,366.49
LCLLos Cerros Limited3-3382670.18 $ 80,332,647.45
CYLCatalyst Metals3-6-25-302.03 $ 195,608,488.77
MKRManuka Resources3-6-90.405 $ 39,042,995.09
GMNGold Mountain30-2-180.041 $ 30,708,996.96
MATMatsa Resources33-37-370.082 $ 26,212,343.96
RVRRed River Resources2-2-202360.215 $ 111,321,488.91
MEUMarmota Limited220-130.045 $ 43,584,016.05
KSNKingston Resources20-8390.23 $ 66,678,182.31
HAWHawthorn Resources2-23-53-610.047 $ 15,675,233.81
A1GAfrican Gold .2-14782260.25 $ 22,333,671.78
PNMPacific Nickel Mines28-5-160.052 $ 12,034,122.02
MM8Medallion Metals.2-70.26 $ 20,447,019.71
GSNGreat Southern2-5-37-220.053 $ 24,116,082.26
ZNCZenith Minerals2351232260.29 $ 85,364,408.70
RNDRand Mining2-10-30-261.45 $ 82,470,143.45
HWKHawkstone Mng2-271772390.0305 $ 49,076,799.21
ARNAldoro Resources2-2494880.31 $ 24,094,860.90
AOPApollo Consolidated2-55190.315 $ 90,915,485.85
E2ME2 Metals2-7-601000.33 $ 51,053,858.04
SLRSilver Lake Resource151-141.895 $ 1,683,808,851.65
STNSaturn Metals12-4250.42 $ 47,235,094.20
GULGullewa Limited1-2-17340.087 $ 15,684,086.60
KWRKingwest Resources1-31-49-400.09 $ 14,807,447.19
GBRGreatbould Resources1161702590.099 $ 26,049,936.90
NCMNewcrest Mining100-1228.03 $ 23,129,298,283.60
DCNDacian Gold1-18-6-270.3375 $ 271,806,890.09
MMLMedusa Mining1-4330.8 $ 167,338,007.31
ASOAston Minerals0322027530.145 $ 130,754,614.35
CBYCanterbury Resources0-18-14380.09 $ 10,067,867.73
SBRSabre Resources0-17-551000.005 $ 8,415,318.25
GMRGolden Rim Resources0-9-23670.01 $ 26,703,496.79
SI6SI6 Metals Limited0-20333000.012 $ 15,325,862.90
SMISantana Minerals0-4-38-400.125 $ 14,254,079.50
TRNTorrens Mining0-70.135 $ 9,164,399.00
LCYLegacy Iron Ore0-291146500.015 $ 96,071,077.76
CAZCazaly Resources015151040.053 $ 19,217,289.88
CGNCrater Gold Min0-5-181000.018 $ 22,094,925.61
AWVAnova Metals0-20-2600.02 $ 28,661,884.00
GEDGolden Deeps0-4-31830.011 $ 8,523,365.84
HRZHorizon0-40100.115 $ 68,157,024.00
VMCVenus Metals Cor0-13-31-80.165 $ 25,683,376.11
SAUSouthern Gold0-7-25-450.082 $ 17,279,629.24
BRVBig River Gold0-12-16470.365 $ 80,055,706.60
IDAIndiana Resources02202650.084 $ 23,829,506.88
AYMAustralia United Min0-1003500.009 $ 16,583,197.37
TSCTwenty Seven Co.0-33-43-500.004 $ 10,642,758.24
XTCXantippe Res0-33-33-200.002 $ 8,149,128.80
MLSMetals Australia0-2001000.002 $ 10,567,970.12
MZZMatador Mining02511570.4 $ 67,318,523.97
LNYLaneway Res0-17-29110.005 $ 18,875,329.67
KGMKalnorth Gold000860.013 $ 11,625,120.78
DTRDateline Resources0-2550500.003 $ 35,324,312.30
DDD3D Resources Limited0-33-191420.004 $ 14,481,488.37
FMLFocus Minerals0-2-2290.295 $ 52,997,083.85
MRRMinrex Resources05-81560.023 $ 12,676,152.27
TINTnt Mines Limited03-5100.16 $ 15,427,712.00
MBKMetal Bank0-8-8440.011 $ 13,029,591.34
ICGInca Minerals0-111275510.125 $ 48,510,288.00
DREDrednought Resources033-83800.024 $ 61,707,294.03
OKROkapi Resources0148280.205 $ 10,830,065.13
GMLGateway Mining0-11-7790.025 $ 47,590,890.00
STKStrickland Metals09-77750.024 $ 11,792,242.59
AVWAvira Resources00-226000.007 $ 9,625,280.00
NWMNorwest Minerals028-3-450.097 $ 10,557,497.36
DGODGO Gold Limited038583.49 $ 258,902,152.96
EMREmerald Res NL-11065970.965 $ 497,358,304.76
WWIWest Wits Mining-1-11-25150.08 $ 112,084,512.40
DEXDuke Exploration-1330.385 $ 23,229,749.24
RRLRegis Resources-1-6-30-492.585 $ 1,952,914,159.49
NUSNusantara Resources-240-180.27 $ 61,903,711.89
MKGMako Gold-24-7530.098 $ 25,209,677.00
MAUMagnetic Resources-2-1321291.39 $ 303,052,651.10
CMMCapricorn Metals-237131.84 $ 656,286,523.13
AARAnglo Australian-2-13-39-390.091 $ 51,243,729.41
HXGHexagon Energy-2-742380.088 $ 39,249,216.78
YRLYandal Resources-238401810.65 $ 61,580,236.89
SVYStavely Minerals-20-33330.61 $ 156,576,871.20
TSOTesoro Resources-36-451610.185 $ 92,411,942.78
BBXBBX Minerals-36-241450.27 $ 115,907,252.64
ERMEmmerson Resources-3-9-8-270.072 $ 35,873,171.21
TBRTribune Res-3-4-22-295 $ 275,457,404.25
S2RS2 Resources-3-3-38700.165 $ 51,957,044.54
A8GAustralasian Gold-30.165 $ 5,629,539.97
AAUAntilles Gold-3-280300.064 $ 12,684,207.19
MEGMegado-3-17-190.145 $ 5,711,831.72
XAMXanadu Mines-3-2153530.058 $ 72,825,829.50
PDIPredictive Disc-3-333230.085 $ 88,637,503.73
SLZSultan Resources-356191000.28 $ 18,426,613.09
RDNRaiden Resources-40-293800.024 $ 29,095,276.34
NSMNorthstaw-4-15-260.32 $ 12,800,000.00
NMRNative Mineral Res-513390.305 $ 8,788,117.50
PUAPeak Minerals-5-17-13570.02 $ 12,294,053.04
HMXHammer Metals-5-91563000.1 $ 78,816,500.24
CELChallenger Exp-5-853180.29 $ 201,784,210.31
NAENew Age Exploration-5-5502600.018 $ 25,227,772.38
CWXCarawine Resources-50-9330.265 $ 28,855,824.03
GRLGodolphin Resources-6-13-3260.17 $ 15,980,980.18
TARTaruga Minerals-639896080.085 $ 41,449,073.49
REZResourc & En Grp-6-15-481060.033 $ 14,677,146.83
AWJAuric Mining-6-160.16 $ 6,478,854.08
BTRBrightstar Resources-6-14-504000.03 $ 13,192,522.92
BNZBenzmining-6-60.75 $ 28,203,293.25
TLMTalisman Mining-647831240.22 $ 43,857,670.48
CLACelsius Resource-7-4134380.043 $ 46,078,035.56
RGLRiversgold-7-13-7500.042 $ 17,373,814.43
AZSAzure Minerals-7-22-671700.27 $ 81,642,716.07
KRMKingsrose Mining-7454230.054 $ 40,150,404.36
CHZChesser Resources-74-48480.13 $ 56,437,765.63
MHCManhattan Corp-7-7-6180.013 $ 21,367,901.70
NAGNagambie Resources-8-154350.074 $ 36,994,993.60
ZAGZuleika Gold-8-12-45200.036 $ 15,173,454.80
RMLResolution Minerals-8-17-41-630.024 $ 10,744,310.74
REDRed 5 Limited-8-10-30-420.175 $ 457,533,033.17
BYHBryah Resources-81-31060.07 $ 10,712,754.54
SBMSt Barbara Limited-9-13-30-431.825 $ 1,277,982,939.15
PAKPacific American Hld-9-9-201000.02 $ 6,371,698.00
ONXOrminex-9-148500.05 $ 27,941,512.04
GWRGWR Group-9-8793210.295 $ 89,322,000.69
EMUEMU NL-10-4-222070.043 $ 18,647,265.71
AL8Alderan Resource-11-12-45-170.058 $ 17,876,465.52
AQXAlice Queen-12-21-48-350.015 $ 16,448,453.54
WCNWhite Cliff Min-12-25-531500.015 $ 7,757,945.99
TNRTorian Resources-1211391170.05 $ 40,474,646.01
CXUCauldron Energy-13-13-13300.035 $ 15,819,982.92
BARBarra Resources-130-44180.02 $ 13,552,162.02
CY5Cygnus Gold Limited-14-22-361600.125 $ 13,552,512.25
TAMTanami Gold NL-15-11-7400.07 $ 86,957,181.40
GTRGti Resources-15010-450.022 $ 14,179,395.96
MDIMiddle Island Res-17-23-69-640.1 $ 12,239,574.30
NESNelson Resources.-17-181760.07 $ 10,474,069.82
NPMNewpeak Metals-20-33-5000.002 $ 11,348,322.60
AMEAlto Metals Limited-22-10-18490.094 $ 42,324,415.09
TRYTroy Resources-28-34-55-520.047 $ 36,363,060.86
G88Golden Mile Res-31-3713910.061 $ 8,541,118.01
ARVArtemis Resources-42-34-511030.061 $ 70,479,387.65
ANLAmani Gold-500-33-500.001 $ 12,386,996.75

 

SMALL CAP STANDOUTS

Gains were led by explorer Great Northern Minerals (ASX:GNM), which surged on strong volume after a big high-grade gold hit at its Camel Creek project in North Queensland.

The stock is now up ~140% since Monday.

Manas Resources (ASX:MSR) announced project acquisitions in Cote d’Ivoire totalling 6,194 square kilometres.

At the ‘Boundiali’ project, shallow drilling has already returned outstanding hits like 30m at 8.3g/t gold across 2km of a 6km long anomaly.

Newly listed Kalgoorlie gold explorer Ozaurum Resources (ASX:OZM) has arrested the drift, continuing its recovery from lows of 12c to be within touching distance of its 25c IPO price.

And fresh drilling has kicked off at Gibb River Diamond’s (ASX:GIB) ‘Edjudina’ gold project in WA.

The stock spiked in October on a new discovery at Edjudina — near the historic Neta mine – with highlight intercepts including 36m at 3.97g/t, just 4m from surface.

The post Gold Digger: Instos pour back into gold as Bitcoin loses spark appeared first on Stockhead.

Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *