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U.S. Labels China “Currency Manipulator,” Gold Soars

Posted by Metals Corporate on

By John McDonald In the wake of breaking news that the United States had formally labeled China a “currency manipulator” and China had retaliated by dropping the price of its currency to a near-historic low, gold prices skyrocketed the night of August 5, 2019.  Even after the upward momentum stabilized the next morning, gold bulls gleefully noted the yellow metal had hit another six-year high overnight. With Asian and European markets volatile and the U.S. stock indexes positioned to open higher the next morning, gold buyers had eased up on activity somewhat as the trading day began.  However, gold and...

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