Gold Digger: Instos pour back into gold as Bitcoin loses spark

Are large Bitcoin investors moving back into precious metals?

In a note to clients, JPMorgan said large institutional investors are dumping bitcoin in favour of gold, reversing a trend that’s played out over the last two quarters.

“The bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors,” JPMorgan wrote in a note to clients.

“Over the past month, bitcoin futures markets experienced their steepest and more sustained liquidation since the bitcoin ascent started last October.”

As crypto fell into the abyss the international gold price rose to almost $US1,900 per ounce on Thursday, the highest since January 11.

Here’s a chart showing the relative strength index (RSI) of spot gold over the past year, which is ‘hot’ (RSI over 70) for the first time since January:

Meanwhile, the top performing ETFs this week, among those screened by MarketWatch, are those for gold and silver miners.

The ETFMG Prime Junior Silver Miners ETF is up 8.75% over the past 5 days, while the VanEck Vectors Junior Gold Miners ETF has gained 8% over the same period.

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop

CODE	COMPANY	1 WEEK CHANGE %	1 MONTH CHANGE %	6 MONTH CHANGE %	1 YEAR CHANGE %	PRICE	MARKET CAP
GNM	Great Northern	138	111	6	111	0.019	$ 20,553,866.59
PUR	Pursuit Minerals	55	-1	485	1940	0.076	$ 55,136,918.88
VRC	Volt Resources	54	67	300	300	0.04	$ 90,452,467.84
MSR	Manas Resources	43	54	43	150	0.01	$ 19,321,915.19
OZM	Ozaurum Resources	41	6			0.19	$ 10,404,000.00
CDT	Castle Minerals	38	27	27	106	0.0165	$ 10,255,011.45
PNX	PNX Metals	29	13	13	29	0.009	$ 32,869,741.60
WRM	White Rock Minerals	26	-9	23	23	0.555	$ 48,792,731.66
KAU	Kaiser Reef	26	-6	-23	0	0.315	$ 31,946,756.82
RDS	Redstone Resources	25	25	0	200	0.015	$ 10,784,985.95
GIB	Gibb River Diamonds	24	10	-49	97	0.077	$ 15,651,698.93
FFX	Firefinch	24	58	221	460	0.465	$ 380,305,122.89
ADN	Andromeda Metals	22	-15	-30	295	0.225	$ 496,967,400.21
ENR	Encounter Resources	21	6	0	46	0.175	$ 42,601,099.91
MTC	Metalstech	20	11	-25	-6	0.15	$ 22,303,557.51
PF1	Pathfinder Resources	20	32	78		0.33	$ 16,408,982.70
TMZ	Thomson Resources	19	55	55	1008	0.155	$ 69,071,626.50
SVL	Silver Mines	18	29	45	115	0.29	$ 351,308,176.33
AGG	AngloGold Ashanti	17	19	9	-22	6.67	$ 586,987,093.70
PRX	Prodigy Gold	13	18	-2	13	0.053	$ 30,192,635.51
OKU	Oklo Resources	17	0	-38	-53	0.14	$ 70,564,173.68
SIH	Sihayo Gold	17	-7	-36	-3	0.014	$ 51,596,459.78
EM2	Eagle Mountain	16	11	232	748	1.145	$ 231,459,924.88
PKO	Peako	16	19	72	319	0.043	$ 8,258,329.61
OBM	Ora Banda Mining	16	-12	-28	-1	0.22	$ 197,922,159.90
MGV	Musgrave Minerals	16	17	1	161	0.405	$ 215,955,294.35
SNG	Siren Gold	16	-35	-52		0.26	$ 14,890,724.16
AGC	AGC	15	-12			0.15	$ 10,159,092.60
MOH	Moho Resources	15	6	-23	25	0.085	$ 8,468,582.96
MRZ	Mont Royal Resources	14	22	20	64	0.36	$ 13,067,466.68
VKA	Viking Mines	14	-16	85	362	0.032	$ 33,701,528.22
GBZ	GBM Resources	14	4	-27	87	0.12	$ 56,292,347.80
MTH	Mithril Resources	14	-6	-38	78	0.016	$ 37,603,728.66
FFR	Firefly Resources	14	20	-31	304	0.12	$ 35,344,045.95
KCN	Kingsgate	13	1	37	111	0.93	$ 205,865,605.40
RMX	Red Mount Mining	13	-18	-36	125	0.009	$ 11,261,902.40
KZR	Kalamazoo Resources	12	3	-14	-23	0.46	$ 63,331,888.32
BMO	Bastion Minerals	12	-5			0.19	$ 10,916,309.40
FAU	First Au	12	27	-21	90	0.019	$ 11,677,946.33
AUC	Ausgold	12	-6	-14	243	0.048	$ 74,511,428.43
PRU	Perseus Mining	11	2	13	8	1.335	$ 1,631,187,637.10
PRS	Prospech	11	20	0	0	0.15	$ 9,753,088.35
ANX	Anax Metals	11	30	113	500	0.1	$ 34,318,021.22
BAT	Battery Minerals	11	-5	-17	300	0.02	$ 40,825,470.82
AAJ	Aruma Resources	11	-1	-31	37	0.072	$ 7,629,186.74
WMX	Wiluna Mining	11	8	-36	-9	1.095	$ 135,681,668.95
TIE	Tietto Minerals	10	7	-16	-9	0.32	$ 145,979,345.92
WAF	West African Resources	10	6	16	36	1.08	$ 962,522,183.75
ADV	Ardiden	10	-35	-52	214	0.011	$ 23,642,896.38
TMX	Terrain Minerals	10	0	-8	83	0.011	$ 8,093,371.10
AGS	Alliance Resources	10	0	-2	7	0.17	$ 31,202,570.10
KTA	Krakatoa Resources	10	13	-14	89	0.068	$ 18,968,600.00
SSR	SSR Mining	10	15	-6		23.71	$ 448,851,504.00
AMG	Ausmex Mining	9	-15	12	9	0.047	$ 25,497,605.83
LEX	Lefroy Exploration	9	-23	365	400	1	$ 106,208,555.30
AUT	Auteco Minerals	9	2	-14	67	0.095	$ 152,016,356.79
SRN	Surefire Resources	9	-11	-27	500	0.024	$ 26,331,849.84
DLC	Delecta	9	0	-14	0	0.006	$ 6,051,727.23
MCT	Metalicity	9	-14	-43	300	0.012	$ 19,687,954.78
CTO	Citigold Corp	9	-8	-14	140	0.012	$ 33,360,000.00
TTM	Titan Minerals	9	25	4	44	0.125	$ 142,431,554.25
MVL	Marvel Gold	9	2	-16	110	0.051	$ 26,449,491.02
M2R	Miramar	8	-17	-43		0.195	$ 8,445,504.00
DCX	Discovex Resources	8	-7	8	63	0.0065	$ 17,980,648.53
GSM	Golden State Mining	8	4	-44	-23	0.135	$ 10,343,544.75
DEG	De Grey Mining	8	18	37	301	1.565	$ 2,013,041,255.16
VAN	Vango Mining	8	-8	-3	-42	0.07	$ 73,364,853.87
CAI	Calidus Resources	8	0	-25	20	0.42	$ 165,509,755.11
RMS	Ramelius Resources	8	8	5	10	1.89	$ 1,579,193,496.04
DTM	Dart Mining	7	15	-12	177	0.15	$ 14,991,821.40
GOR	Gold Road Resources	7	12	13	-19	1.44	$ 1,264,063,715.53
SKY	SKY Metals	7	0	-23	-64	0.155	$ 38,230,723.34
ADT	Adriatic Metals	7	6	11	108	2.48	$ 470,984,673.60
CHN	Chalice Mining	7	25	113	531	7.83	$ 2,683,595,008.24
PNR	Pantoro	7	15	24	42	0.235	$ 330,973,583.58
ALY	Alchemy Resources	6	13	-11	24	0.017	$ 12,100,382.15
KAI	Kairos Minerals	6	13	-15	114	0.034	$ 53,646,109.57
NST	Northern Star	6	-1	-20	-22	11.25	$ 13,042,190,637.99
BC8	Black Cat Syndicate	6	-1	4	74	0.7375	$ 103,333,983.83
RSG	Resolute Mining	6	19	-19	-46	0.62	$ 667,855,087.13
BCN	Beacon Minerals	6	3	8	5	0.036	$ 130,798,704.29
WGX	Westgold Resources	6	-5	-7	-4	2.19	$ 919,765,935.90
BRB	Breaker Resources	6	-21	0	-30	0.19	$ 60,280,571.87
HCH	Hot Chili	6	-10	-22	90	0.038	$ 114,181,808.82
NXM	Nexus Minerals	6	7	-41	79	0.095	$ 23,438,560.42
CST	Castile Resources	5	18	7	90	0.295	$ 56,917,384.49
THR	Thor Mining	5	43	0	233	0.02	$ 10,595,640.66
AXE	Archer Materials	5	-19	33	60	0.705	$ 155,965,216.74
EVN	Evolution Mining	5	8	-6	-16	5.125	$ 8,902,155,512.85
M24	Mamba Exploration	5	-22			0.21	$ 7,770,000.00
ALK	Alkane Resources	5	13	-10	4	0.86	$ 512,034,368.00
SPQ	Superior Resources	5	-4	-28	207	0.0115	$ 15,885,361.60
IVR	Investigator Res	5	11	56	360	0.092	$ 121,803,087.84
OAU	Ora Gold Limited	4	4	0	26	0.024	$ 20,210,285.33
BDC	Bardoc Gold	4	-1	-6	-19	0.073	$ 123,203,273.70
AQI	Alicanto Minerals	4	9	-14	64	0.125	$ 40,983,432.63
NML	Navarre Minerals	4	-11	-48	-17	0.125	$ 71,011,479.63
ARL	Ardea Resources	4	-5	6	89	0.5	$ 61,281,879.36
BGL	Bellevue Gold	4	-9	-30	31	0.89	$ 762,088,277.07
TRM	Truscott Mining Corp	4	24	30	225	0.026	$ 3,326,480.14
MEI	Meteoric Resources	4	-2	-7	162	0.055	$ 72,313,534.65
NVA	Nova Minerals	4	-9	-36	209	0.145	$ 233,792,530.58
HRN	Horizon Gold	4	6	9	130	0.435	$ 46,411,026.96
AMI	Aurelia Metals	3	-9	-3	35	0.4125	$ 493,895,950.00
IPT	Impact Minerals	3	-18	-25	27	0.0165	$ 30,356,923.79
SFM	Santa Fe Minerals	3	0	-9	85	0.1	$ 7,281,878.90
PGD	Peregrine Gold	3	26			0.34	$ 9,439,036.75
RXL	Rox Resources	3	-11	-35	21	0.034	$ 80,379,882.02
BNR	Bulletin Res	3	-1	-5	1	0.071	$ 12,729,808.25
KCC	Kincora Copper	3	27			0.355	$ 25,178,366.49
LCL	Los Cerros Limited	3	-3	38	267	0.18	$ 80,332,647.45
CYL	Catalyst Metals	3	-6	-25	-30	2.03	$ 195,608,488.77
MKR	Manuka Resources	3	-6	-9		0.405	$ 39,042,995.09
GMN	Gold Mountain	3	0	-2	-18	0.041	$ 30,708,996.96
MAT	Matsa Resources	3	3	-37	-37	0.082	$ 26,212,343.96
RVR	Red River Resources	2	-2	-20	236	0.215	$ 111,321,488.91
MEU	Marmota Limited	2	2	0	-13	0.045	$ 43,584,016.05
KSN	Kingston Resources	2	0	-8	39	0.23	$ 66,678,182.31
HAW	Hawthorn Resources	2	-23	-53	-61	0.047	$ 15,675,233.81
A1G	African Gold .	2	-14	78	226	0.25	$ 22,333,671.78
PNM	Pacific Nickel Mines	2	8	-5	-16	0.052	$ 12,034,122.02
MM8	Medallion Metals.	2	-7			0.26	$ 20,447,019.71
GSN	Great Southern	2	-5	-37	-22	0.053	$ 24,116,082.26
ZNC	Zenith Minerals	2	35	123	226	0.29	$ 85,364,408.70
RND	Rand Mining	2	-10	-30	-26	1.45	$ 82,470,143.45
HWK	Hawkstone Mng	2	-27	177	239	0.0305	$ 49,076,799.21
ARN	Aldoro Resources	2	-24	94	88	0.31	$ 24,094,860.90
AOP	Apollo Consolidated	2	-5	5	19	0.315	$ 90,915,485.85
E2M	E2 Metals	2	-7	-60	100	0.33	$ 51,053,858.04
SLR	Silver Lake Resource	1	5	1	-14	1.895	$ 1,683,808,851.65
STN	Saturn Metals	1	2	-42	5	0.42	$ 47,235,094.20
GUL	Gullewa Limited	1	-2	-17	34	0.087	$ 15,684,086.60
KWR	Kingwest Resources	1	-31	-49	-40	0.09	$ 14,807,447.19
GBR	Greatbould Resources	1	161	70	259	0.099	$ 26,049,936.90
NCM	Newcrest Mining	1	0	0	-12	28.03	$ 23,129,298,283.60
DCN	Dacian Gold	1	-18	-6	-27	0.3375	$ 271,806,890.09
MML	Medusa Mining	1	-4	3	3	0.8	$ 167,338,007.31
ASO	Aston Minerals	0	32	202	753	0.145	$ 130,754,614.35
CBY	Canterbury Resources	0	-18	-14	38	0.09	$ 10,067,867.73
SBR	Sabre Resources	0	-17	-55	100	0.005	$ 8,415,318.25
GMR	Golden Rim Resources	0	-9	-23	67	0.01	$ 26,703,496.79
SI6	SI6 Metals Limited	0	-20	33	300	0.012	$ 15,325,862.90
SMI	Santana Minerals	0	-4	-38	-40	0.125	$ 14,254,079.50
TRN	Torrens Mining	0	-7			0.135	$ 9,164,399.00
LCY	Legacy Iron Ore	0	-29	114	650	0.015	$ 96,071,077.76
CAZ	Cazaly Resources	0	15	15	104	0.053	$ 19,217,289.88
CGN	Crater Gold Min	0	-5	-18	100	0.018	$ 22,094,925.61
AWV	Anova Metals	0	-20	-26	0	0.02	$ 28,661,884.00
GED	Golden Deeps	0	-4	-31	83	0.011	$ 8,523,365.84
HRZ	Horizon	0	-4	0	10	0.115	$ 68,157,024.00
VMC	Venus Metals Cor	0	-13	-31	-8	0.165	$ 25,683,376.11
SAU	Southern Gold	0	-7	-25	-45	0.082	$ 17,279,629.24
BRV	Big River Gold	0	-12	-16	47	0.365	$ 80,055,706.60
IDA	Indiana Resources	0	2	20	265	0.084	$ 23,829,506.88
AYM	Australia United Min	0	-10	0	350	0.009	$ 16,583,197.37
TSC	Twenty Seven Co.	0	-33	-43	-50	0.004	$ 10,642,758.24
XTC	Xantippe Res	0	-33	-33	-20	0.002	$ 8,149,128.80
MLS	Metals Australia	0	-20	0	100	0.002	$ 10,567,970.12
MZZ	Matador Mining	0	25	11	57	0.4	$ 67,318,523.97
LNY	Laneway Res	0	-17	-29	11	0.005	$ 18,875,329.67
KGM	Kalnorth Gold	0	0	0	86	0.013	$ 11,625,120.78
DTR	Dateline Resources	0	-25	50	50	0.003	$ 35,324,312.30
DDD	3D Resources Limited	0	-33	-19	142	0.004	$ 14,481,488.37
FML	Focus Minerals	0	-2	-22	9	0.295	$ 52,997,083.85
MRR	Minrex Resources	0	5	-8	156	0.023	$ 12,676,152.27
TIN	Tnt Mines Limited	0	3	-51	0	0.16	$ 15,427,712.00
MBK	Metal Bank	0	-8	-8	44	0.011	$ 13,029,591.34
ICG	Inca Minerals	0	-11	127	551	0.125	$ 48,510,288.00
DRE	Drednought Resources	0	33	-8	380	0.024	$ 61,707,294.03
OKR	Okapi Resources	0	14	8	28	0.205	$ 10,830,065.13
GML	Gateway Mining	0	-11	-7	79	0.025	$ 47,590,890.00
STK	Strickland Metals	0	9	-77	75	0.024	$ 11,792,242.59
AVW	Avira Resources	0	0	-22	600	0.007	$ 9,625,280.00
NWM	Norwest Minerals	0	28	-3	-45	0.097	$ 10,557,497.36
DGO	DGO Gold Limited	0	3	8	58	3.49	$ 258,902,152.96
EMR	Emerald Res NL	-1	10	65	97	0.965	$ 497,358,304.76
WWI	West Wits Mining	-1	-11	-2	515	0.08	$ 112,084,512.40
DEX	Duke Exploration	-1	3	3		0.385	$ 23,229,749.24
RRL	Regis Resources	-1	-6	-30	-49	2.585	$ 1,952,914,159.49
NUS	Nusantara Resources	-2	4	0	-18	0.27	$ 61,903,711.89
MKG	Mako Gold	-2	4	-7	53	0.098	$ 25,209,677.00
MAU	Magnetic Resources	-2	-13	21	29	1.39	$ 303,052,651.10
CMM	Capricorn Metals	-2	3	7	13	1.84	$ 656,286,523.13
AAR	Anglo Australian	-2	-13	-39	-39	0.091	$ 51,243,729.41
HXG	Hexagon Energy	-2	-7	42	38	0.088	$ 39,249,216.78
YRL	Yandal Resources	-2	38	40	181	0.65	$ 61,580,236.89
SVY	Stavely Minerals	-2	0	-33	33	0.61	$ 156,576,871.20
TSO	Tesoro Resources	-3	6	-45	161	0.185	$ 92,411,942.78
BBX	BBX Minerals	-3	6	-24	145	0.27	$ 115,907,252.64
ERM	Emmerson Resources	-3	-9	-8	-27	0.072	$ 35,873,171.21
TBR	Tribune Res	-3	-4	-22	-29	5	$ 275,457,404.25
S2R	S2 Resources	-3	-3	-38	70	0.165	$ 51,957,044.54
A8G	Australasian Gold	-3				0.165	$ 5,629,539.97
AAU	Antilles Gold	-3	-28	0	30	0.064	$ 12,684,207.19
MEG	Megado	-3	-17	-19		0.145	$ 5,711,831.72
XAM	Xanadu Mines	-3	-21	53	53	0.058	$ 72,825,829.50
PDI	Predictive Disc	-3	-3	33	23	0.085	$ 88,637,503.73
SLZ	Sultan Resources	-3	56	19	100	0.28	$ 18,426,613.09
RDN	Raiden Resources	-4	0	-29	380	0.024	$ 29,095,276.34
NSM	Northstaw	-4	-15	-26		0.32	$ 12,800,000.00
NMR	Native Mineral Res	-5	13	39		0.305	$ 8,788,117.50
PUA	Peak Minerals	-5	-17	-13	57	0.02	$ 12,294,053.04
HMX	Hammer Metals	-5	-9	156	300	0.1	$ 78,816,500.24
CEL	Challenger Exp	-5	-8	53	18	0.29	$ 201,784,210.31
NAE	New Age Exploration	-5	-5	50	260	0.018	$ 25,227,772.38
CWX	Carawine Resources	-5	0	-9	33	0.265	$ 28,855,824.03
GRL	Godolphin Resources	-6	-13	-32	6	0.17	$ 15,980,980.18
TAR	Taruga Minerals	-6	39	89	608	0.085	$ 41,449,073.49
REZ	Resourc & En Grp	-6	-15	-48	106	0.033	$ 14,677,146.83
AWJ	Auric Mining	-6	-16			0.16	$ 6,478,854.08
BTR	Brightstar Resources	-6	-14	-50	400	0.03	$ 13,192,522.92
BNZ	Benzmining	-6	-6			0.75	$ 28,203,293.25
TLM	Talisman Mining	-6	47	83	124	0.22	$ 43,857,670.48
CLA	Celsius Resource	-7	-4	13	438	0.043	$ 46,078,035.56
RGL	Riversgold	-7	-13	-7	50	0.042	$ 17,373,814.43
AZS	Azure Minerals	-7	-22	-67	170	0.27	$ 81,642,716.07
KRM	Kingsrose Mining	-7	4	54	23	0.054	$ 40,150,404.36
CHZ	Chesser Resources	-7	4	-48	48	0.13	$ 56,437,765.63
MHC	Manhattan Corp	-7	-7	-61	8	0.013	$ 21,367,901.70
NAG	Nagambie Resources	-8	-1	54	35	0.074	$ 36,994,993.60
ZAG	Zuleika Gold	-8	-12	-45	20	0.036	$ 15,173,454.80
RML	Resolution Minerals	-8	-17	-41	-63	0.024	$ 10,744,310.74
RED	Red 5 Limited	-8	-10	-30	-42	0.175	$ 457,533,033.17
BYH	Bryah Resources	-8	1	-3	106	0.07	$ 10,712,754.54
SBM	St Barbara Limited	-9	-13	-30	-43	1.825	$ 1,277,982,939.15
PAK	Pacific American Hld	-9	-9	-20	100	0.02	$ 6,371,698.00
ONX	Orminex	-9	-14	85	0	0.05	$ 27,941,512.04
GWR	GWR Group	-9	-8	79	321	0.295	$ 89,322,000.69
EMU	EMU NL	-10	-4	-22	207	0.043	$ 18,647,265.71
AL8	Alderan Resource	-11	-12	-45	-17	0.058	$ 17,876,465.52
AQX	Alice Queen	-12	-21	-48	-35	0.015	$ 16,448,453.54
WCN	White Cliff Min	-12	-25	-53	150	0.015	$ 7,757,945.99
TNR	Torian Resources	-12	11	39	117	0.05	$ 40,474,646.01
CXU	Cauldron Energy	-13	-13	-13	30	0.035	$ 15,819,982.92
BAR	Barra Resources	-13	0	-44	18	0.02	$ 13,552,162.02
CY5	Cygnus Gold Limited	-14	-22	-36	160	0.125	$ 13,552,512.25
TAM	Tanami Gold NL	-15	-11	-7	40	0.07	$ 86,957,181.40
GTR	Gti Resources	-15	0	10	-45	0.022	$ 14,179,395.96
MDI	Middle Island Res	-17	-23	-69	-64	0.1	$ 12,239,574.30
NES	Nelson Resources.	-17	-18	1	76	0.07	$ 10,474,069.82
NPM	Newpeak Metals	-20	-33	-50	0	0.002	$ 11,348,322.60
AME	Alto Metals Limited	-22	-10	-18	49	0.094	$ 42,324,415.09
TRY	Troy Resources	-28	-34	-55	-52	0.047	$ 36,363,060.86
G88	Golden Mile Res	-31	-37	13	91	0.061	$ 8,541,118.01
ARV	Artemis Resources	-42	-34	-51	103	0.061	$ 70,479,387.65
ANL	Amani Gold	-50	0	-33	-50	0.001	$ 12,386,996.75

SMALL CAP STANDOUTS

Gains were led by explorer Great Northern Minerals (ASX:GNM), which surged on strong volume after a big high-grade gold hit at its Camel Creek project in North Queensland.

The stock is now up ~140% since Monday.

Manas Resources (ASX:MSR) announced project acquisitions in Cote d’Ivoire totalling 6,194 square kilometres.

At the ‘Boundiali’ project, shallow drilling has already returned outstanding hits like 30m at 8.3g/t gold across 2km of a 6km long anomaly.

Newly listed Kalgoorlie gold explorer Ozaurum Resources (ASX:OZM) has arrested the drift, continuing its recovery from lows of 12c to be within touching distance of its 25c IPO price.

And fresh drilling has kicked off at Gibb River Diamond’s (ASX:GIB) ‘Edjudina’ gold project in WA.

The stock spiked in October on a new discovery at Edjudina — near the historic Neta mine – with highlight intercepts including 36m at 3.97g/t, just 4m from surface.