Dollar Crashes As Gold Surges To Fresh All Time High (And Currency Coolmaps)
Gold has just hit a fresh all time record (with equity futures down), as the world has finally awakened to the central banker ruse. With spot touching at $1,293.5 perhaps all those seeing some reversion to the mean occuring in the metal would be better advised to look for a career as robot algos, that do nothing but seek std dev divergences from a VWAP mean. In the meantime, gold will continue to chug along to $5,000+, now that FX interventions is how the central bankers of the world will be spending all their trading hours.
And accompanying this, is the latest near-death experience for the dollar, which is falling across the board everywhere, as the following heatmap demonstrates: the USD is weaker against every single currency, presumably even the ZWD.
And here is why Angela Merkel is about to generate another massive European crisis behind the scenes. Sorry Greece, this one may mean you are out.
And here is why central bankers are all very, very impotent people. Note the complete inability to intervene in the desired way, while merely debasing their own currencies.
BOJ intervention effect already cut in half:
As for SNB intervention, it never even had an effect: