{"id":51451,"date":"2020-02-28T10:35:05","date_gmt":"2020-02-28T15:35:05","guid":{"rendered":"https:\/\/olduvai.ca\/?p=51451"},"modified":"2020-02-28T10:35:07","modified_gmt":"2020-02-28T15:35:07","slug":"gold-tumbles-is-the-boj-back-in-the-market","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=51451","title":{"rendered":"Gold Tumbles &#8211; Is The BoJ Back In The Market?"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/commodities\/gold-tumbles-boj-back-market\">Gold Tumbles &#8211; Is The BoJ Back In The Market?<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Gold prices are down around $25 this morning, despite a collapse in stocks and bond yields &#8211; and generally weak trend lower in the dollar.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2020-02-28_6-50-50.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The question is why? Or more appropriately, who?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We may have an answer to this outlier move. Last week we asked (rhetorically): &#8220;<a href=\"https:\/\/www.zerohedge.com\/markets\/are-japanese-losing-faith-yen-crashes-near-record-lows-against-gold\"><em><strong>Are The Japanese Losing Faith? Yen Crashes Near Record Lows Against Gold?<\/strong><\/em><\/a>&#8220;<\/p>\n\n\n\n<figure><iframe width=\"1\" height=\"1\"><\/iframe><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2020-02-28_6-59-55.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Noting that JPY and gold had massively decoupled, seemingly breaking out of their unofficial peg.&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Perhaps this week&#8217;s crisis was enough to force the BIS or Bank of Japan back into the precious metals market to stabilize faith in fiat as the chart above shows a series of high volume dumps pressuring gold lower, and the chart below shows a huge roundtrip back into the &#8216;peg&#8217; for yen against gold&#8230;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/bfm3EFC.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">So did Kuroda and his pals step in?<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/BN-EJ835_Kuroda_G_20140904085925.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;free markets&#8221; eh?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold Tumbles &#8211; Is The BoJ Back In The Market? Gold prices are down around $25 this morning, despite a collapse in stocks and bond yields &#8211; and generally weak trend lower in the dollar. The question is why? Or more appropriately, who? We may have an answer to this outlier move. Last week we [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[57,28965,647,4318],"class_list":["post-51451","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-japan","tag-gold-price-manipulation","tag-precious-metals","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51451"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51451\/revisions"}],"predecessor-version":[{"id":51452,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51451\/revisions\/51452"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}