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Gold's sharp rise today can be attributed to the dollar's drop vs. the yen; when the dollar...

Gold's sharp rise today can be attributed to the dollar's drop vs. the yen; when the dollar drops, gold should rise, as their correlation during the past 24 days has hit -86%. A stock sector that's standing out is emerging market gold miners: South Africa’s Sibanye (SBGL), Harmony (HMY) and AngloGold (AU), plus Peru's Buenaventura (BVN) are stronger, even as their corresponding country ETFs (EZA; EPU) are in the red.
Comments (5)
  • Interesting Times
    , contributor
    Comments (10217) | Send Message
     
    I guess Japan's 7% smackdown has nothing to do with it huh? Who writes these silly posts anyway??
    23 May 2013, 02:48 PM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2730) | Send Message
     
    If you ever follow Kitco's daily comments on gold, they simply make up whatever they want as a reason. That's why I only write a few articles a month, at a time when I feel there is a good reason to.
    23 May 2013, 02:50 PM Reply Like
  • Interesting Times
    , contributor
    Comments (10217) | Send Message
     
    Just wasting space with these makes the site lose it's reputation.

     

    No due diligence, just sounds like a few guys having a beer chatting. Utter nonsense with no factual backing. Oh well, someone obviously like it !

     

    Haven't they seen the dollar and gold rise together occasionally? Or drop together as well?
    23 May 2013, 03:23 PM Reply Like
  • TwistTie
    , contributor
    Comments (2477) | Send Message
     
    The analysis might be inane, but I'm to stupid to understand it anyway.

     

    Gold seems to have a mind of its own.

     

    Explain that.
    23 May 2013, 03:55 PM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2730) | Send Message
     
    Physical Gold is insurance more than it is anything else.
    23 May 2013, 04:10 PM Reply Like
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