justina: they have.he main thing we have seen is it has taken a while for some of these retail investors to get in. last week, blackrock gold etf hit a holdings high. that is an example of the retailers starting to trickle into the gold rally that has been going on. scarlet: perhaps set to continue with goldman sachs seeing gold adding to $1600 an ounce. eric: your best seller is aaau, a gold etf. this one is a new school. it is cheap. it has some of the bells and whistles. it will deliver gold to your house. it is backed by the australian government for the extra paranoid. do the bells and whistles matter? jay: the low fee is great. it is 18 basis points. you have the australian government backing the product. it is backing the gold in the etf. that makes a difference. if you think about it, there are a couple of large commercial banks that are the custodians for all of the rest of the gold product in new york and in london. the gold for perth is underneath the ground in perth. whether you own enough sh

justina lee, what do you have for us?winning trade inequities and that is betting on the winning trade inequities. i am talking about the momentum strategy, which took quantitative investors means you by the past year's winners and to the losers. if you look at this white line, you can see it has been going through the roof, because in the past years -- in the past years who has been the winners, the defensive proxies. that has been going up with the blue line, which is the treasury bond etf. that has a lot of quantitative strategist worried. momentum haswarned never been this expensive. with no and insight in the u.s. china trade war it is becoming hard to time any turning point in momentum or the turning point in bond rallies. it is hard to see where this can end. phenomenalt also was , something i've not seen before either. to admit whenough i'm not able to do something and i'm not able to pick a winner. i think both of those charts are equally amazing, both of the presentations were equally amazing. i'm going to ask t

justina: part of it is the idea that the economy is starting to slow down.tral banks have been decreasing their interest rate. a lot of that is bullish for gold because there is an opportunity cost. the dollar versus some of the other asset classes that don't have as high interest rates. some of it is geopolitics. some of it is this currency war, with trump: china a currency -- with trump calling china a currency manipulator. caroline: our people getting into it? etf's seem to be plentiful. fewina: there've been a etf's recently that have seen some multiyear highs. a 10d about one that hit year high. i always mix up the f and ph. it is one of the ones that recently hit a high. another example of retail and institutional investors getting into gold. romaine: does this mean that gold bugs are not pranks anymore? more?t cranks any joe: i finally see. romaine: thank you for joining us. turning from gold to another haven asset, cryptocurrency. china wants in. the people's bank of china is said to be close to issuing its own cryptocurrency, especially working sinc