ASA Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: ASA shows strong historical returns, especially over extended holding periods, and current trends indicate resilience in gold demand, bolstering ASA’s potential.




Bearish Case: High short-term implied volatility and market uncertainty suggest potential downside risks, compounded by macroeconomic instability affecting gold prices negatively.




Potential Outcomes:
  • Price Increase (~40%): Supported by stable gold demand and positive historical trends.
  • Stagnation (~30%): Due to ongoing market uncertainties and moderate implied volatility.
  • Decline (~30%): Economic challenges and volatility spikes could drive prices lower.



March 18, 2025


ASA Gold and Precious Metals Forecast

ASA        ASA Gold and Precious Metals











Correlated Assets

Assets that tend to move strongly with ASA



KGC Forecast + Options Trading Strategies   KGC  Kinross Gold (0.97)


SATS Forecast + Options Trading Strategies   SATS  EchoStar (0.94)


NOK Forecast + Options Trading Strategies   NOK  Nokia (0.93)


ALHC Forecast + Options Trading Strategies   ALHC  Alignment Healthcare (0.92)


BCS Forecast + Options Trading Strategies   BCS  Barclays (0.92)



Uncorrelated Assets

Assets with little price relationship to ASA



VOD Forecast + Options Trading Strategies   VOD  Vodafone (0.0)


IFF Forecast + Options Trading Strategies   IFF  International Flavors & Fragrances (0.02)


CPS Forecast + Options Trading Strategies   CPS  Cooper-Standard (0.03)


TSN Forecast + Options Trading Strategies   TSN  Tyson Foods (-0.03)


HCA Forecast + Options Trading Strategies   HCA  HCA Healthcare (0.04)



Anticorrelated Assets

Assets that tend to move strongly against ASA



DVN Forecast + Options Trading Strategies   DVN  Devon Energy (-0.82)


RIG Forecast + Options Trading Strategies   RIG  Transocean (-0.85)


AMR Forecast + Options Trading Strategies   AMR  Alta Mesa Resources (-0.86)


ATKR Forecast + Options Trading Strategies   ATKR  Atkore (-0.86)


COTY Forecast + Options Trading Strategies   COTY  Coty (-0.86)









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