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Topic: XAG, SLV, XAU, GDX & USDJPY (August) (Read 682 times) previous topic - next topic

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Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #30
So far the yen looks to be taking the upward path following it's relatively bullish performance on Friday. Without a catalyst to continue to drive down the yen I would expect the yen to dominate until Wednesday or Thursday of this week where it could slump again. We'll see.


Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #31
So far the yen looks to be taking the upward path following it's relatively bullish performance on Friday. Without a catalyst to continue to drive down the yen I would expect the yen to dominate until Wednesday or Thursday of this week where it could slump again. We'll see.



I like following your yen posts, but I have to use the reciprocal chart to follow the action, I can't seem to get my mind around the inverse correlation. So far today the yen has declined against the dollar making the yen carry trade for gold purchase less profitable wrt currency conversion component, which for its part is putting pressure on gold price. Recent stronger yen trend is still in place suggesting the pressure on gold is temporary.


Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #32
I saw somewhere that gold didn't always play off the yen, but some other currency. Now it appears to, as Nikko pointed out. Maybe it's just an easy "switch-bank" for Forex. An on-off type of thing inside run phases. At any rate, the chart is pretty clear that it means a few days of pressure against how much strength there is in gold and silver right now.  I think gold and silver will continue forward until September at which time there could be a strong reversal in the yen. Conditions that I'm seeing right now in the yen suggest a strong reversal is imminent, but I think it is likely to fail at this point, but it's looking like we are getting close to one. If the yen continues to break its bands with two to go, then it is likely not to be a to serious threat for the future IMO. We keep watching and playing. GL.

  • ken
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  • Global Moderator
Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #33
Correlated as "safe haven" assets, gold and the yen.

Seeking Alpha we read : "However, one can never take these correlations for granted, as they sometimes break down. The yen/gold correlation will ebb and flow in the future, as there's no real economic explanation why it should persist. Gold is a US-centric commodity, acting as an alternative currency to protect against volatility, inflation, and otherwise insalubrious prospects in the greater US economy. So the best explanation for the current strong correlation between the yen and gold is mainly based on the "competing safe havens" explanation."

https://seekingalpha.com/article/4031205-yen-gold-correlation-mean

Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #34
How the pair are looking to me. With the yen in limbo and gold touching bottom it certainly looks poised to reverse. We'll see what happens here. GL.


  • ken
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  • Global Moderator
Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #35
Nice charts!

Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #36
Nice charts!
I can't help it, I'm artistic by nature. (Humor injection)... :)) , thanks.

Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #37
Big picture, seems like a reasonable expectation and the one I'm looking at happening despite all the amplified turmoil. I couldn't be more disgusted at this point. Sorry for so many lost and injured during the recent and current media circus. Just another negative feather for the media in my cap. Extremest-Liberal Nazi type propaganda peddlers and they have the audacity to point at so many while reporting rumors and  conjectures long before the fact with emotional bias firing up emotions and turmoil to serve their agendas and masters agendas. America itself is victimized with this malicious entity. Sorry, but I'm upset by such a disgusting display of responsible journalism. With so much BS flying around these days it's obvious why I've found more truth in charting. Follow the money. I didn't intend it that way, but day by day it became a more and more apparent truth. For me anyways.

 

  • ken
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  • Global Moderator
Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #38
The journalists, may they live long enough to hang!

Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #39
The journalists, may they live long enough to hang!

It's looking more and more like they or the country needs to establish some sort of policing action policies because the "Responsible Journalist Code" isn't working anymore. The moral center has eroded and just about anything goes. The pen is mightier than the sword and they wield there's recklessly IMO. The snowball started following Charlottesville during the press conference for infrastructure. I don't really remember who brought the Charlottesville incident up first whether it was Trump to make a point or it was the press, without checking the transcript again, however, to me if you are at a press conference for infrastructure wouldn't a responsible journalist remain on topic, but noooo, the press kept hammering and hammering because Trump let them lead the conference. He botched it since I have seen that kind of play with presidents who usually lightly touch the issue, but force the press to stay on topic. It has snowballed from there into a long ride circus. Geeze America! Now Goldman says there is a 50% chance of a government shutdown and now that Bannon has been dismissed Trump has lit a political fuse and still in another article Bannon is not the only problem in the White House. At this point I think I'd like to see a shutdown. Go to your corners, pout, hold your breath, cry and when we all feel better you can go out and play. Again, disgusting!

What happens when we lose our sense of personal moral and ethical responsibility? Martial law? Self-defenses? I saw where Texas is about to legalize the carrying of large knives and swords publicly. Is that about personal defenses?

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #40
In the end I think we will see martial law. It is the only solution at this point to restore order.
There is a good article on Zero Hedge about mass hysteria. One should read it.
http://www.zerohedge.com/news/2017-08-18/dilberts-scott-adams-explains-how-know-youre-mass-hysteria-bubble

This is all good for the metals eventually. There is nothing you or I can do about it. This hysteria is being feed by the leftist who with to transform the country into a socialistic utopia. It will take martial law to rectify. Mass arrest of the dems seems to be the solution. They are catering to these people, steering them. The snowflake generation is creating a cultural revolution after Mao.  This must stop!

Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #41
In the end I think we will see martial law. It is the only solution at this point to restore order.
There is a good article on Zero Hedge about mass hysteria. One should read it.
http://www.zerohedge.com/news/2017-08-18/dilberts-scott-adams-explains-how-know-youre-mass-hysteria-bubble

This is all good for the metals eventually. There is nothing you or I can do about it. This hysteria is being feed by the leftist who with to transform the country into a socialistic utopia. It will take martial law to rectify. Mass arrest of the dems seems to be the solution. They are catering to these people, steering them. The snowflake generation is creating a cultural revolution after Mao.  This must stop!

Very well presented article. Time to move on, but this is the best I would hope for. People and a lot of people to start voicing in their own way "Insanity - wake up - stop!" News agencies have that power if they get on the wagon to stop overreaction and hysteria instead of instigating it. I sure would like to start seeing that along the mainstream sites.

  • CLARKBAR
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Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #42
Where it's all going?  One word: Venezuela~!  Gold, Guns Ammunition,, Food Stuffs, Water purification, Medication, Power Generation, and while it never is needed... Goods and lives sleep better when these precautions are in place. Faith in government was the germ... anarchy and plague is the result.. ALWAYS~!   Want to live forever?.. Buy a billion dollar life insurance policy.

Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #43
With the weakness in gold a rework of my chart is in order. Right now there appears to still be a band in play that has widened out the established channels. In regards to this, it reveals that todays lower level comes in at about 1283.50 I would like to see some forward momentum. The yen is pushing its 5 day MA and looks to make or break against its outer band Wednesday.

Re: XAG, SLV, XAU, GDX & USDJPY (August)
Reply #44
GDXJ seems to be bumping against horizontal resistance at about $34.00 and has not been able to get meaningfully above that level for several months. Since July 10, it has been making higher lows and recently it has not dipped below $32.25. MACD is positive as is Stop and Reverse.  I closed my long $33.50 calls this morning for a miniscule gain thinking the ETF could be on the verge of breaking out. If right I gain, if wrong, I lose a little on the underlying plus the cost to cover. One of these days and probably soon, the PM sector is going to make a run up.