Happy New Year

Another busy week begins.

35
Mon, Feb 4, 2019 - 9:43am

Chinese New Year is this week and, as with Golden Week in October, you never know precisely how the Comex metals will respond to the Chinese markets being on holiday.

Already last evening, the USDCNH rose sharply...meaning a weakening versus the dollar. Whether this is some follow-through from last week or whether this is some trading taking advantage of the lack of official Chinese trading/pegging hardly matters. What matters is that the yuan is weaker and, thus, gold is weaker, too....

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