""As long as fiscal dominance, geopolitical fragmentation and central bank credibility remain in question, precious metals are likely to stay at the center of this perfect storm, not just as hedges, but as alternatives,""
""Intervention chatter did the trick. Since Friday, the yen has staged a sharp rebound on expectations that Japanese authorities possibly with U.S. co-ordination would step in,""
Gold surged past $5,000 an ounce and silver reached $110 as investors moved into precious metals amid geopolitical tensions and a weakening U.S. dollar. Doubts about fiscal dominance, geopolitical fragmentation and central bank credibility elevated demand for safe-haven and alternative assets. The U.S. dollar fell to its weakest since mid-November while the yen rallied as much as 1.5 percent in Europe. Signals from Japanese and U.S. officials about potential coordinated intervention supported the yen. Japan’s fiscal outlook weakened after Prime Minister Sanae Takaichi’s spending and tax-cut pledges, pushing government bond yields to record highs as the Bank of Japan raises rates.
Read at www.cbc.ca
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