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Gold Surges as China Devalues Its Currency | The Mesh Report

Gold Surges as China Devalues Its Currency

Mike Hammer August 5, 2019 Comments Off on Gold Surges as China Devalues Its Currency

Over the weekend, China devalued its currency, citing competition from other countries that have already done so. Many saw this as a warning about President Trump’s latest tack in the trade war, but there are other implications as well.

Last week, your friendly Gold Enthusiast warned about the Race To The Bottom – well, now China has doubled down with their usual tactic of pushing just past “the limit”.

This time, “the limit” was the 7 RMB to 1 USD exchange rate that’s acted as a floor.  It’s not like China is the only country devaluing their currency to try to gain a competitive edge.

Continue Reading At The Gold Enthusiast



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