Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold Dips on the Week While Silver Rises Almost 3%
By: Chris Mullen, Gold Seeker Report

Taiga Launches Website, Sets Tentative CSE Trading Date
By: Eagle Plains Resources Ltd.

Economics 101: Who Sets Prices?
By: Alasdair Macleod

Silver Breakout Or Fakeout?
By: Mike Maloney and David Morgan

COT Gold, Silver and US Dollar Index Report - April 20, 2018
By: GoldSeek.com

Gold Nearing Bull Breakout
By: Adam Hamilton, CPA

Surmounting The Greatest Market Threat
By: Deepcaster

GoldSeek Radio Nugget: John Williams and Chris Waltzek
By: radio.GoldSeek.com

Turkey Takes Possession of 220 Tons of Gold Repatriated from Federal Reserve
By: Rory Hall

Black Monday II - Repricing of Risk Begins
By: Gordon T Long

 
Search

GoldSeek Web

 
Gold Price Rises After Currency Wars Reignite As China Devalues


 -- Published: Wednesday, 12 August 2015 | Print  | Disqus 

DAILY PRICES
Today’s Gold prices were USD 1,116.80, EUR 1003.23 and GBP 717.18 per ounce.
Yesterday’s Gold prices were USD 1,113.25, EUR 1008.97 and GBP 713.74 per ounce.
[LBMA AM prices]

Gold in USD

Gold in USD – 1 Year
Gold and silver rose on the COMEX yesterday – up 0.5% to $1,108.70 and silver was up 0.6% to $15.34 per ounce.

This morning, gold is 0.85% higher to $1,119 per ounce. Silver is up 0.1% to $15.47 per ounce. Platinum and palladium are 0.5% and 1% higher to $996 and $610 per ounce respectively.

Gold Rises After Currency Wars Reignite As China Devalues

  • China surprised global markets yesterday by devaluing its currency on concerns about sharply decelerating Chinese economy
  • We were not surprised as had said that this was likely as the Chinese economic numbers are bogus
  • The devaluation was condemned by U.S. politicians as a grab for an unfair export advantage

Currency Wars

Mark Hill via Merck Investments

  • China’s central bank set its official guidance rate down nearly 2 percent to 6.2298 yuan per dollar
  • It was the biggest one-day fall since a massive devaluation in 1994
  • The devaluation hit global equities and U.S. oil prices, with investors fearing a new currency war
  • Gold prices ticked higher as the move will increase deflation pressures in the U.S. and could lead to the Fed not being able to increase interest rates
  • As expected – currency wars and competitive currency devaluations are set to escalate once again
  • Gold, silver and tangible assets will benefit once again

| Digg This Article
 -- Published: Wednesday, 12 August 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.