Carley Garner, a futures and options broker at DeCarley Trading, recently discussed gold and Bitcoin relative to the dollar index futures with Daniela Cambone with Kitco News.

Kitco News and Futures Broker Carley Garner


Earlier in the year, there was some debate as to whether cryptocurrencies, particularly Bitcoin, would be replacing gold as an alternative currency.  At the time, the price of gold and Bitcoin were trading in opposite directions of one another; Bitcoin had spent the month of December 2017 exploding in parabolic fashion to a value of $20,000 per coin. At the same time, gold had seemingly lost all of its luster hovering just over $1,100.  As we head into mid-2018, we are in a completely different environment. We are still seeing the price of gold and Bitcoin trading in opposite directions, but this time it is gold that is shining and Bitcoin is struggling to prove its value to the markets.  Going forward, we tend to believe both gold and Bitcoin will become more positively correlated.  Specifically, both quasi-currencies will likely suffer as the greenback gains value. 

You can view the archive of this video interview by clicking here. 


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