Gold Tumbles Most Since July (As Bitcoin Bounces)

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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s