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IPFS News Link • Japan

GOLDFIX: JAPAN SELLS GOLD TO FINANCE DEBT

• https://www.zerohedge.com by VINCE LANCI

Bonds are unchanged. Gold February futures are up $1.50 at $1891.90.  March Silver is trading $26.13 after a massive rally yesterday, PGMs are mixed and Copper is up 3 cents at $3.60. Stocks across the board are up small. BitCoin is up 150 around 23,000 after touching 23,837 a significant ATH change from 3 days ago.  Oil futures are up slightly, at $48.55. Nat Gas is trading up 4 cents at $2.68ish. Soy futures are up 8 cents having cracked the $1200 barrier.

BitCoin Goes Bonkers- touches just below $24,000

Gold, Brent, and WTI Technicals

The following are excerpts from Moor Analytics Gold and Energy Technical Reports[EDIT- Written 5:05AM- VBL] posted here with permission:

Gold (G)-Upside: Sell against/into $1,900.1- XXX (-1 tic per/hour starting at 8:20am); get long on a solid penetration above and look for strength to come in...

Brent (G)-12/15 EOD: Decent trade below $49.80 (+1.4 tics per/hour starting at 8:00pm) will put this below a minor pattern that will warn of pressure. If we break below here decently and back above, look for short covering to come in.

Crude Oil (WTI) (F) 12/15 EOD: Decent trade below $45.96 (+1 tic per/hour starting at 6:00pm) will project this downward $1.85 minimum, $2.35 (+) maximum [with prescribed risk stops placed appropriately]

Japan Sells Gold to Finance Debt

Reuters reports that Japan sold 80 tons of gold allocated for coin minting to another arm of the government to fund part of its huge stimulus package to combat the coronavirus crisis. Or at least that is what the government officials told them. In a rare action, in order to raise cash in dollars for stimulus funding, the Finance Ministry of Japan sold FX reserves to the Japanese central Bank.- Reuters


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