SPDR S&P 500 (SPY)

[Footquarters]

Yen Carry



The gold price has not only been reacting to the absolute levels of the oil price and the fall of the $, but to the instability, uncertainty and downright fear in the Capital markets and the banking system. Two reasons why there is such a drama has been the activities of the "Carry Trade" and the resultant Capital Tsunamis, or even the complete lack of available capital [much as the shoreline pulls right back before the Tsunami hits].

http://www.safehaven.com/article-8980.htm