BITCOIN & Gold Drift Up Slightly

Bitcoin Gold

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FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis. FintekNews uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

5/16/17 Closing Prices:

Bitcoin: $1,740.55 (+$12.14)
Gold:
 $1,237 (+$7.00)
Dow Jones Industrials: 20,979.95 (-2.19)
S&P 500: 2,400.67 (-1.65)
Nasdaq Composite: 6,169.87 (+20.20)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Trading Summary Notes for Friday, 5/16/17:

  • Bitcoin steady here in the $1700-$1750 area SO FAR
  • May see some further weakness. Could place “new” buy orders in the $1625-$1650 range
  • Neutral on Bitcoin currently.
  • Closed short gold position @ $1234
  • Neutral on gold currently
  • Gold seems trapped in the $1225-$1250 range. DEAD MONEY.

NO CURRENT POSITIONS

Past Market

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here

We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. We continue that call.