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.