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Chasing Two Rabbits – Thoughts On A Gold-Yen Crossover

By |2013-05-28T10:28:56-04:00May 28th, 2013|Commodities, Federal Reserve/Monetary Policy, Markets|

I have been espousing a theory that QE-steriods in Japan has led to a decline in liquidity conditions for Japanese banks. That, in turn, may have been partially responsible for the most recent downturn in the price of gold. It may or may not have been a factor in the gold smash of April, but at this point it cannot [...]

Sunday Gold Fix – The Basics of Leasing

By |2013-05-28T09:04:10-04:00May 28th, 2013|Commodities, Federal Reserve/Monetary Policy, Markets|

The most common question I receive about gold relates to the means through which an increase in leasing/lending activity is negative for gold prices. It appears that the mechanism by which this is accomplished is unclear and counterintuitive. By all accounts, an increase in the demand for gold as collateral to obtain “cash” should be positive for gold since it [...]

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