Interactive Brokers: Silver's recent performance resembles "meme stocks," with gold and BTC showing converging trends again

DeepFlowTech · 2026-02-01T13:54:10+00:00

Chief strategist at Interactive Brokers believes that silver's recent performance is similar to "meme stocks," pressured by the strengthening dollar. Data shows that gold and Bitcoin have similar performance. Although investors still pursue alternative assets, the "meme-ification" of traditional commodities may be nearing its end.

DeepFlowTech

2026-02-01 13:54:10

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Deep Tide TechFlow News, February 01, According to Caixin, Interactive Brokers’ Chief Strategist Steve Sosnick believes that silver’s recent performance is similar to “meme stocks.” Although the strengthening of the dollar following the news of Trump’s nominee for Federal Reserve Chair, Jerome Powell, put pressure on silver trading, the decline in silver began during the overnight trading before the announcement was made public. Additionally, data shows that over the past two years, the performance of gold and Bitcoin has been highly correlated, with their returns differing by only a few percentage points. Currently, these two asset classes are once again showing converging trends. Sosnick finally pointed out that although investors still pursue alternative assets and chase momentum, the phenomenon of “meme-ification” of traditional commodities with thousands of years of history may be nearing its end.

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