Venture: Update
Issue 118;
The problem is that gold and, especially, silver are trading as risk-ON assets. Therefore, to add new related companies, I would want to see this relationship cool or at least be in a stronger market environment.
In January, the gold price was going up, and everyone knew it. It had a ByteTrend score of 5, meaning the price traded above two rising moving averages. It also regularly made new 20-day highs while avoiding lows. The thing I gain most from ByteTrend Scores is their impartiality. Gold is now a 2, which is not an opinion but a statement of fact.
Gold ByteTrend Score
On the other hand, aluminium, where production largely reflects the price of electricity, is surging, scoring a 5 on the daily, weekly and even monthly charts.
Aluminium
Then, comparing aluminium with gold since the mid-1980s, it reminds us how far industrial metals have been left behind, lagging the gold price by 80%. Yet, until 2008, these had traded in a range.
Aluminium vs Gold
These long-term relationships, which sometimes break down, make you think about how things could change. Gold is a store of value, but aluminium is more of a store of energy. It makes me wonder how much things could change should this energy crisis persist.
General - Your capital is at risk when you invest, never risk more than you can afford to lose. Past performance and forecasts are not reliable indicators of future results. Bid/offer spreads, commissions, fees and other charges can reduce returns from investments. There is no guarantee dividends will be paid. Overseas shares - Some recommendations may be denominated in a currency other than sterling. The return from these may increase or decrease as a result of currency fluctuations. Any dividends will be taxed at source in the country of issue.
Funds - Fund performance relies on the performance of the underlying investments, and there is counterparty default risk which could result in a loss not represented by the underlying investment. Exchange Traded Funds (ETFs) with derivative exposure (leveraged or inverted ETFs) are highly speculative and are not suitable for risk-averse investors.
Bonds - Investing in bonds carries interest rate risk. A bondholder has committed to receiving a fixed rate of return for a fixed period. If the market interest rate rises from the date of the bond's purchase, the bond's price will fall. There is also the risk that the bond issuer could default on their obligations to pay interest as scheduled, or to repay capital at the maturity of the bond.
Taxation - Profits from investments, and any profits from converting cryptocurrency back into fiat currency is subject to capital gains tax. Tax treatment depends on individual circumstances and may be subject to change.
Investment Director: Charlie Morris. Editors or contributors may have an interest in recommendations. Information and opinions expressed do not necessarily reflect the views of other editors/contributors of ByteTree Group Ltd. ByteTree Asset Management (FRN 933150) is an Appointed Representative of Strata Global Ltd (FRN 563834), which is regulated by the Financial Conduct Authority.
© 2026 ByteTree Group Ltd
