I realize that but a '600' point move as mentioned is irrelevant. Todays trade was more subdued but I just cannot see a connect between gold and the BoJ upping their QE.
What does matter is that the largest pension fund in the world will now divest itself of a load of JGB and start buying billions of $s of global equities, twice that of the BoJ.
What seems to be missing here is a realization that a Central Bank is now buying equities. What this will do for markets generally is astounding over a period of time as this volume of purchases increases.
I notice that they're not buying gold and the reason is a tad obvious. Gold is the wrong asset, too narrow.
What is of further interest is that their plan of direct market intervention won't work. Once the yen gets to to a certain point those outside Japan will see a major fiat currency lose value very quickly. What will the BoJ do then?
