Gold, silver, bitcoin—here’s the most popular safety play with traders

Gold, silver or bitcoin?

That question is likely coming into focus for investors and traders as they seek safety or protection with the stock market at record highs.

But, for some, there are clear winners in the group.

“Since last November — so, for about eight months or so — when the Fed started to move towards dovish, people flocked to gold and to bitcoin and they ran them both up,” Jim Iuorio, a veteran futures and options trader, said Tuesday on CNBC’s “Futures Now.” “They forgot silver, but … silver sometimes lags gold and then catches up all at once. We’ve seen that in the last couple weeks.”

Now, trust in the trio is being tested. Gold is up almost 11% this year, with most of that run occurring in the last three months; silver is up over 9% in the last three months and is on track for its third straight week of gains; and the Wild West that is bitcoin is up over 150% this year and has seen huge swings in both directions in the last several weeks.

“Bitcoin, all of a…