4,198. That’s where gold closed the week — down marginally for October, 10% below the August recovery high, and 15% below April’s record. The metal has spent three weeks pinned between 4,091 and 4,259, and the longer this compression lasts, the more violent its eventual resolution will be. The bull case, on its last legs […]
Gold’s magnificent August is being unwound, fast. The metal has fallen from its late-August peak near 4,558 to a low of 4,143 this week, closing near 4,186 — a decline of more than 8% in seven sessions. The summer recovery, which had carried gold from 3,955 to within sight of the June breakdown at 4,578, […]
Every cross-asset investor felt the yen shock this week, even those who’ve never traded USD/JPY. Here’s the damage report — and the lesson inside it. The scoreboard Stocks: the S&P 500 spent the week wobbling around 7,490, down modestly from July’s highs but well above the June correction low of 7,238. The equity market’s reaction […]
The yen finally pushed back, and it pushed hard. USD/JPY crashed from Monday’s open at 163.79 to a Friday low of 155.26, settling the week at 157.58 — an 830-pip collapse that ranks among the sharpest yen rallies in years. The carry trade, rebuilt so confidently through mid-July, has been gutted for the second time […]
Gold has done something quietly impressive this month: nothing. After June’s vertical decline and capitulation low at 3,955, the metal has spent three weeks building a base, inching from 4,040 to roughly 4,090. Volatility has collapsed. The daily ranges have shrunk to levels last seen in February. And the commentary has turned dismissive — which, […]