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Gold trading in China has exploded and stocks of copper have risen sharply prompting speculation that policymakers are on the brink of a yuan devaluation. Even though it’s still a tail-risk, it’s one requiring greater vigilance as the economy becomes increasingly deflationary, redoubling capital outflow pressures. The yuan has been steadily falling versus ...
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The gold price on Friday pulled back off the session highs of about $2,350 to trade at about $2,334. The price of the yellow metal continues to trade within an ascending channel formation in the 60-minute chart. Despite the pullback, gold continues to trade slightly above the 100-hour moving average line. Friday’s pullback prevented the XAU/USD from ...