by Turd Ferguson
TF Metals Report
We’ve been watching for two weeks as prices have once again been pushed backward into expirations. However, the pattern calls for a renewed up trend to begin as soon as next week. Is it possible to connect the dots and project that far out? Yes!
As we’ve been following for the past two weeks, the USDJPY has now rallied seven points or 7% in just eight days as Krazy Kuroda in Japan has promised to buy 1T yen worth of new government debt and perhaps even begin the “helicopter money” plan of direct government debt monetization going forward.
The correlation between the yen and gold has been present for years and we have monitored it closely since 2014. As a reminder, here’s how it looks in 2016: