Gold rises in price despite decision of People’s

Gold rises in price, despite the decision of the People’s Bank of China

futures
rose gold with delivery in December
Tuesday, even though the decision
People’s Bank of China to reduce the rate of
the yuan against the dollar by 1.9%. So, to 12:35 MSK
Futures traded at $ 1112.90
per ounce (+ 0.80%).

after the decision
Chinese central bank average exchange
RMB exchange rate against the dollar was set at
the level of 6.2298 against 6.1162 the previous day. By
assurances of the regulator, the measure was
disposable, and the bank will continue to
maintain the stability of the RMB
"rational" level.

Decision
Chinese regulators led to
strengthening of the US currency, also increased the estimated dollar commodity
Products for investors who have a
means not expressed in dollars. "No one
did not expect this, and I think that gold
may suffer from downward
pressure"- says the analyst Phillip
Futures in Singapore Howie Lee.

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