Deeper Dive into Yen Gold
Founders
Housekeeping: Good Morning.. More proof Gold correlations never died, they just got stronger for rallies and weaker for selloffs.
Gold versus the Yen. Strong when the Yen rallies against the USD… defiant when the Yen drops against it. That is suspicious… (see chart)
The Chart That Raised Eyebrows…
Contents:
Traders Analysis: Correlations are Back
Goldman Not Buying Yen…. But No Sweat
Bonus: Reports
Traders Analysis: Correlations are Back Baby
Bonus: Japan Treasury Demand and BOA PDF at bottom
Gold has been observed to be frontrunning yen strength for the past few weeks. Every time the Yen shows signs of bottoming (weaker dollar), gold takes off. conversely, every time those Yen bottoms are false, Gold gives very little back.