Gold and the Japanese Yen are shown to the left. Notice the very strong recent correlation.
As most know, the Yen is sought after during times of uncertainty – i.e. it’s part of the “safety trade”. Clearly, gold is part of that same trade.
Both the Yen and gold are also inversely correlated to the movements of the US Dollar to a certain degree. The combination of these trading relationships is likely pushing gold around these days. Trump trouble likely will bull up gold and the Yen.
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