wolfstreet.com / by Wolf Richter •
“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. This disappointed the hedge fund community that had been cocksure that the BOJ would throw more fodder their way. So Japanese stocks plunged and the yen soared to hit ¥106.5 to the dollar on Friday, up 5% in three days, and the highest level since October 2014.
The euro, which the ECB is trying to crush with all its might, has re-soared 9% since early December to $1.145 by Friday.
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Thanks to BrotherJohnF