Interactive Brokers: Bitcoin and gold trends converge, silver performs similarly to 'meme stocks'

Steve Sosnik, Chief Strategist of Interactive Brokers, stated that silver has recently performed similarly to a "meme stock", despite the pressure on silver trading caused by the news of Trump's nomination of Federal Reserve Chairman Josh to strengthen the US dollar. However, the decline in silver had already begun in overnight trading prior to the announcement of the nomination. He pointed out that in the past two years, the performance of gold and Bitcoin has been highly consistent, with a yield difference of only a few percentage points. Currently, the two have once again shown a trend of convergence. In addition, he believes that the mentality of investors chasing alternative assets and momentum is still present, but the phenomenon of "mystification" of traditional commodities may be coming to an end.