Does this price action signify that people are selling their gold and silver and buying Yen?? I don't understand why the Yen would be up so much over the past couple of sessions when typically commodities sell off when there is strength in the dollar. I'm thinking this is just a short term "dead cat bounce" that will soon be over but who knows. These markets make less and less sense with each passing day.
I think it is 3 things at work.
a) Meeting of G20 later this week, where pressure is expected to be on Japan and the Yen's drop, if it appears that the drop slowed, they may be able to avoid political challenges at the meeting.
b) Regional risks, from China slowing and Korean military issues, flight to safety
c) Bond prices spiked a bit too much for confort, and maybe the government pulled back a bit for now on the easing.