Gold fever catching in Japan

IMG Auteur
 
Published : January 22nd, 2013
278 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Market Analysis

24hGold - Gold fever catching ...Gold has been hammering away the $1,690 mark for the last couple of trading sessions, but with no luck so far. Silver looks to be setting up for a move back over $32 and put in a stronger showing on Friday than either gold, platinum or palladium. This morning European stocks are edging towards two-year highs – a further sign of improving sentiment.

Last week saw further gains in gold relative to the Japanese yen, gold hitting Y149,588.2/oz; the highest price since the 1980 all-time nominal record of Y204,850. As WSJ reports, yen gold is up 4.2% since the start of the year and 10% since late November – when markets first started paying attention to reports that then prime-ministerial candidate Shinzo Abe was determined to force new yen-weakening measures on the Bank of Japan. As one commodity strategist quoted in the article notes, "the first product people think about when it comes to inflation is gold: it's a very obvious trade." The Japanese have not tended to be big gold buyers compared with others in Asia, but given the paltry return on cash savings they’re getting, this is changing.

Trader Dan provides a good update on the commodity price chart indicators, noting that last Thursday the Continuous Commodity Index again crept above its 50-day and 200-day moving averages, as seen in late November and mid-December. As the chart on his site shows, the CCI has been in a downtrend since last October. But with quiet in Europe, gains in US economic indicators and talk of massive money printing from the Bank of Japan, the broader environment is looking more and more constructive for commodities and precious metals.

Data and Statistics for these countries : Japan | All
Gold and Silver Prices for these countries : Japan | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
The Fed Is Confused about What Drives Inflation
18 Octneville
Hi Frank, Thanks for your article.......The fact of the matter is that LIES LIKE EVERYTHING ELSE DRIVES INFLATION , which as it so happens is 'THE'...
What kind of person runs for public office ?
17 OctThemis1
I liked the use of the self-actualization chart within the context of politicians and their motives. It probably applies to many in Hollywood as w...
The Silliness of the Bretton Woods Years
16 OctThe Recusant
KUDOS! The book is anti-gold slanted throughout and subtly mocks those that value gold as seen in that silly Las Vegas Golden Rooster tale. As I pr...
The Future (Not)
14 OctS W.-1
I have it on good authority that the Aliens living in Antarctica have discovered a way of turning Ice into Oil. All we have to do to secure ou...
Betrayal!
09 OctThemis1
I agree 100% with all the points you made. You have summarized my own anger and the reasons for it. My only consolation is that I believe the eli...
A silver price-suppression theory gets debunked
07 OctDoom-1
I think he linked the wrong article, because there's minimal facts and logic there relevant to price suppression. It's a shame, because I really wo...
Light It Up
07 OctThemis
I keep wondering whether the US is fermenting a war with North Korea so as to indirectly draw China in and delay implementation of the yuan-for-oil...
One Nation Under Gold (2017), by James Ledbetter
05 OctThe Recusant1
Sadly, I too hoped for a more even-handed assessment of gold in our economic history. The book IS biased and by the time I got to the 20th century ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS