New Indicator for Gold?
Gold to S&P 500 is the best intermarket indicator for Gold. How about Gold vs. Bitcoin?
Bitcoin is a beta-tech or beta-risk on vehicle. It has followed tech since its inception.
If a melt-up plays out, Bitcoin will continue to outperform Gold and could go parabolic. Given the history of how both have traded, it is difficult to anticipate a huge move in Gold until after Bitcoin peaks.
