Precious Metals Rally but Are Gold Bugs Secretly Holding Bitcoin?

Gold stocks are on a tear. So much so that one analyst believes that they are about to become the next FAANG stocks, the latter of which represent high-flying tech companies that have been fueling much of the stock market’s gains lately.

On CNBC, Wolfe Research Technical Analyst John Roque touts what he calls the BAANG stocks, which are a group of five gold companies that together have advanced more than 40 percent since May. These companies include Barrick Gold, AngloGold Ashanti, Agnico Eagle Mines, Franco Nevada, and Gold Fields. And while investors may be flocking to these gold names lately, don’t be surprised if they are also “hodling” some digital gold – bitcoin – whether they admit it or not.

A new acronym could spell opportunity for one surging group of stocks, says top technician John Roque: pic.twitter.com/PPwGq8UhF3

— Squawk Box (@SquawkCNBC) July 22, 2019

CCN previously reported that Bridgewater Associates Co-CIO Ray Dalio provided a bullish outlook for gold,…