NGD Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: Rising gold prices and increased call option volumes suggest strong investor confidence in NGD, indicating potential for continued upward price momentum.




Bearish Case: Persistent operational concerns and high implied volatility raise downside risks. The flat options term structure suggests market skepticism about sustained gains.




Potential Outcomes:
  • Gold price increase boosts NGD: 40% likelihood.
  • Operational setbacks affect price negatively: 30% likelihood.
  • Market stabilization, little movement: 20% likelihood.
  • Broader market downturn impacts negatively: 10% likelihood.



May 20, 2025


New Gold Forecast

NGD        New Gold











Correlated Assets

Assets that tend to move strongly with NGD



PPL Forecast + Options Trading Strategies   PPL  PPL (0.84)


EQX Forecast + Options Trading Strategies   EQX  Equinox Gold (0.82)


BABA Forecast + Options Trading Strategies   BABA  Alibaba (0.82)


CORT Forecast + Options Trading Strategies   CORT  Corcept Therapeutics (0.81)


GENI Forecast + Options Trading Strategies   GENI  Genius Sports (0.8)



Uncorrelated Assets

Assets with little price relationship to NGD



FITB Forecast + Options Trading Strategies   FITB  Fifth Third Bancorp (0.0)


PNC Forecast + Options Trading Strategies   PNC  PNC Financial Services (0.01)


APPN Forecast + Options Trading Strategies   APPN  Appian (-0.01)


DNA Forecast + Options Trading Strategies   DNA  Ginkgo Bioworks (-0.03)


RF Forecast + Options Trading Strategies   RF  Regions Financial (0.04)



Anticorrelated Assets

Assets that tend to move strongly against NGD



TDW Forecast + Options Trading Strategies   TDW  Tidewater Inc. - New (-0.77)


XRX Forecast + Options Trading Strategies   XRX  Xerox (-0.77)


M Forecast + Options Trading Strategies   M  Macy's (-0.78)


CABA Forecast + Options Trading Strategies   CABA  Cabaletta Bio (-0.79)


MUR Forecast + Options Trading Strategies   MUR  Murphy Oil (-0.79)









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