Gold is down over 1% this morning, extending recent weakness to 3-week lows on the basis that the world didn’t end (and the debt ceiling was extended) we presume. Notably, both USDJPY and Bitcoin are mirroring the precious metal’s move…
It seems gold’s stop-run over the election night highs prompted the reversal…
Kuroda has been busy the last week or so saving the world with Yen-carry trades…
But it seems the sudden realization that China’s crackdown in crypto is not such a big deal has prompted some rotation…
The dollar index is on the rise also.
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September 18, 2017 at 11:34AM
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