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Gold Surges To 3-Month Highs As Bitcoin Loses $45k

Tyler Durden's Photo
by Tyler Durden
Monday, May 17, 2021 - 11:07 AM

As bitcoin has been battered lower in recent weeks, the original 'alternative' currency has soared to its highest since January.

Bitcoin dropped below $45,000 for the first time since February amid Elon Musk's comments, back at the levels before Musk's initial bitcoin comments...

Source: Bloomberg

And Gold futures just touched $1865, its highest since January 31st...

Source: Bloomberg

Breaking above its 200DMA for first time since Feb 2nd...

Source: Bloomberg

Another 'great' rotation?

Source: Bloomberg

Gold still has a long way to go to catch up with Bitcoin...

Source: Bloomberg

So the barbarous relic is trumping new digital gold once again... for now.

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