by Turd Ferguson
TF Metals Report
Well, we’ve spent the last two weeks making some bold predictions about the price of gold, the Bank of Japan and interest rates. Now here we are at the end of the month and things have unfolded almost precisely as we’d hoped. Won’t it be fun to see what gifts August brings?
Time is short this morning such just a recap…
The BoJ did, indeed, “disappoint” overnight in the classic buy-the-rumor-sell-the-news style that we expected. The only oddity of it all was the almost NON-reaction in every other market. While the USDJPY fell over two points, S&P futures hardly budged, interest rates actually rose and the metals fell. HUH??