When Janet Yellen leaves the Fed chair - who will replace her, Yoda or Tyrion Lannister? Precious metals continued their strong move upwards this past week,...

When Janet Yellen leaves the Fed chair - who will replace her, Yoda or Tyrion Lannister? Precious metals continued their strong move upwards this past week, with gold testing USD $1370 oz, up circa 15% since the start of 2014. Overnight moves started in Asia off back of the falling Nikkei then Chinese bond default rumours, with short covering contributing too. Charts suggesting gold is looking pretty good here, and a test of USD $1400 per ounce at least, although the sector does need a breather. Major pieces of news (outside Russia/Crimea and the iron ore and copper crashes linked to China) for the week were Societe Generale's look at true US corporate profitability and company growth, and Jeff Gundlachs What hath QE wrougth presentation, which had some excellent and insightful charts. Ambrose Evans Pritchards piece on QE as victimless crime may have also marked 'peak central banking' Full report here (VIEW LINK)