Gold is at a critical juncture when measured against the US money supply (M2SL), testing a level last reached in 2011 and not surpassed since the 1970s, when the price more than tripled to a then-record $700 per ounce. ounces over several years.
In contrast, bitcoin referred to by some supporters as digital gold, has fallen toward a support level, revisiting lows it last touched during the “tariff tantrum” in April.
Back in 2011, gold cost $1,800 per It is now about $4,500. When plotted against the money supply, which represents the total stock of dollars circulating in the US economy, including cash, bank deposits and liquid savings, the price has reached a level that has historically served as a key resistance zone.
To get there, the precious metal is up 70% this year. This is in stark contrast to bitcoin, which has fallen around 10%. Still, bitcoin continues to make new highs against the US money supply every cycle, and the current support level also marks the previous cycle high in March 2024.
