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  "description": "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.",
  "path": "/research/2026/04/venture-update-130426/",
  "publishedAt": "2026-04-13T13:19:18.000Z",
  "site": "https://www.bytetree.com",
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  "textContent": "## Issue 118;\n\nThe 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.\n\n## Sign up for our research\n\nVenture is ideal for experienced private investors looking for deep-value opportunities in global equities. Sign up for free to receive previews of future Venture updates as well as our other research publications.\n\nSign Up\n\nEmail sent! Check your inbox to complete your signup.\n\nNo spam. Unsubscribe anytime.\n\nIn 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.\n\n### Gold ByteTrend Score\n\nSource: Bloomberg\n\nOn 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.\n\n### Aluminium\n\nSource: Bloomberg\n\nThen, 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.\n\n### Aluminium vs Gold\n\nSource: Bloomberg\n\nThese 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.\n\n### This post is for subscribers only\n\nBecome a member to get access to all content\n\nSubscribe now",
  "title": "Venture: Update",
  "updatedAt": "2026-04-13T13:19:18.809Z"
}