Investors Don't Believe The Gold Rally

As gold nears a 7-year high, gold stocks continue to lag. Investors don't believe the gold rally, as they attribute it to temporary safe-haven buying. But geopolitical risk will remain elevated for years as Fed policy, the main driver of the rally, gets even more reckless.

Related trading instruments: 

Newmont Mining (NEM), Goldcorp (GG), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), SPDR Gold Trust ETF (GLD)

Bitcoin & Gold Rallying

For those Bitcoin bugs excited about Bitcoin's 4 percent rally in 2020, think about this: Gold is also up by about the same percentage this year, only with significantly less downside risk.

If this is the best rally Bitcoin can muster, how will it ever hit 50,000, let alone 1 million?

Will Bitcoin End The Year With a Loss?

Earlier this year Ethereum, the number 2 crypto currency by market capitalization was up over 150 percent, and now it's down year-to-date. Ripple, the number 3 crypto currency, has also give up its earlier gains and is now down over 50 percent year-to-date. There are still plenty of trading days left in the year for Bitcoin to end 2019 with a loss!