6th April 2016

Gold rebounded on Tuesday, snapping a two-day losing streak as a sharp selloff in global stocks sent money towards the precious complex. At one point, gold was up almost $20/ounce, but it gave back roughly half its gains by the end of the US session. There were more modest gains in silver and platinum, but palladium lost ground, losing $9/ounce over the course of the day. The weaker dollar also helped gold’s advance; although the greenback held steady against the Euro and actually gained ground on sterling, it lost considerable ground against the yen, sinking to a 17-month low and now looking quite horrendous on the yen charts. Bank of Japan Governor Kuroda stressed his willingness on Tuesday to expand monetary policy and push interest rates further into negative territory, but this seems to have hardly had any impact in checking the currency’s ascent