The TF Metals Report's Turd Ferguson today provides more evidence in support of London-based market analyst Paul Mylchreest's December study --
http://gata.org/node/14822
-- concluding that gold was yoked in an algorithmic short/long trade with the Japanese stock index, only Ferguson sees it as a trade with the Japanese yen.
Ferguson writes: "If you're baffled why 'fundamentals don't seem to matter,' it's because the fundamentals don't matter. There are very few human traders of size left and the computers control everything. In this environment, arcane notions such as supply/demand and company fundamentals are insignificant. The primary drivers to these 'markets' are changes to the USD/JPY."
Ferguson's commentary is headlined "It's All About that Yen" and it's posted at the TF Metals Report here:
http://www.tfmetalsreport.com/blog/6726/its-all-about-yen
