One of the most fascinating things with gold
is it's almost constant price in JPY. Why? Keeping it constant on appreciating Yen means shorting Gold
. We are now at a sentiment change! Short JPY and long Gold
.So, why is there a need to keep Gold
in JPY constant? Well, maybe/probably the bullion bank gold
is not in China but rather in Japan... As a collateral for their long JPY carry trades....?