SPDR Gold Trust (GLD)

[cdrom]

Currency War ON, but Techniques Vary

http://www.forexnews.com/blog/2013/05/08/currency-war-on-but-techniques-vary/

The Fed, BoJ and BoE are buying bonds, the ECB and RBA cut interest rates and the RBNZ intervened in its currency directly. The decision by the RBNZ to intervene over cutting interest rates was particularly interesting since New Zealand has plenty of room to lower rates. This was clearly a conscious decision on their part to focus on capping the currency’s rise. Taking a look at the charts, the “intervention” appears to have occurred on April 15th, which suggests that 86 cents is their pain threshold for the currency. The RBA also said a strong currency was the motivation for this week’s rate cut.

I don't think this is coincidence that GOLD also took a massive dive around middle of April... I guess until the dust settles on this currency devaluation war, there appears to be extreme volatility on GOLD.

http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=0&mn=3&dy=0&id=p58343891086

Any thought?