BITCOIN Parties Higher, CME Group Futures At Hand; GOLD Crawls Higher, New Respect? (12/15/17)

Bitcoin Gold

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

12/15/17 Closing Prices:

Bitcoin:  $17,582.17  (+1205.37) 
Gold:  $1,256  (+$3) 
Dow Jones Industrials:  24,651.74  (+143.08)
S&P 500:  2,675.81  (+23.80)

Nasdaq Composite: 6,936.58  (+80.06)

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

Trading Summary Notes for Friday, 12/15/2017

  • BITCOIN rallies into the weekend. CME Group futures debut Monday
  • The CME bitcoin futures contract is a better product and better price discovery
  • Will the “new” futures have a trading effect? Not for a while
  • Still very frothy and may be short term over owned. But will anybody sell?
  • GOLD inches higher and holds $1,250 area.
  • New inflation ‘chatter” will benefit gold
  • Gold is under owned and under loved. Don’t be short gold
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION:  Long GOLD

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

Read our PRIOR daily commentaries on Bitcoin vs Gold here