【Fujitomi】Tokyo gold continues to rise in response to the yen depreciation

(Tokyo Precious Metals)
On the 2nd, Tokyo gold continued to rise fueled by a sharp yen depreciation. As of 11:00, the front-month gold contract for April is 9 yen higher at 4,515 yen, and the front-month platinum contract for April is 27 yen lower at 3,356 yen.
Following the sharp rise in the NY Dow, the Nikkei average also surged, and with that positive sentiment, NY Dow futures showed a substantial advance. As a result, with NY gold, which had recovered to the 1,270-dollar range, slipping below 1,265 dollars again, it fell sharply. On the other hand, the yen has been weakening as stock prices rise, and this yen weakness is supporting Tokyo gold. With former FBI Director Comey's congressional testimony scheduled for the 8th, expectations are high for a rally in NY gold next week, so tonight's US employment data is likely to provide a buying opportunity. It will probably be a release that attracts buyers on the dip in US employment data.
https://www.fujitomi.co.jp/?p=15651