February 29, 2024 - (Gold Market Wire) - There can be no doubt anymore. Gold is playing second fiddle to Bitcoin. The recent opening of ETFs to the Bitcoin mania has stolen Gold's thunder - but good. While Bitcoin turns in 20%+ returns in a few weeks, Gold meanders - doing next to nothing. But finally we have some relief.

Two whole months of watching paint dry has been discouraging even to the most die hard bulls. The digital era has found its "Gold" - and it ain't Gold...but a digital asset.

But digital assets are just that...digital. When the lights go out, gold and silver still have a role. But how, exactly does that help us with the trading book? The Bull is 22 years old now, and while Gold's 'store of value' cannot be doubted, the trading book needs to have an asset that deserves attention. The US Dollar is doing nothing for weeks now.

However, let us be resolute. The global banking system - shaky as a leaf in the wind, may yet put wind in Gold sails. From the trading side, we should be positioned to wait for a pullback, and then establish length. The end of the month will print well for the technicals.

We need to keep the faith. It's at moments like this that the market usually comes roaring back to life.