by Wolf Richter
Wolf Street
“Speculators are losing faith.”
Gold jumped 2.2% on Friday to $1,294.90 an ounce. It’s up nearly 5% for the week and hit the highest price since January 2015.
Silver rose 1.7% on Friday to $17.80 an ounce. During the day, it kissed the highest price since January 2015. It has jumped 15% in April.
The yen, which the Bank of Japan successfully crushed for a while, has re-soared, from ¥126 to the dollar in June last year to ¥112 by last Wednesday morning in Tokyo. At that point, the BOJ announced that it would keep its scorched-earth campaign of negative interest rates and money printing unchanged, rather than adding to it.