View Full Version : It Was A Yuan Of A Week

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08-14-2015, 03:07 PM
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It Was A Yuan Of A Week (http://info.kitco.com/it-was-a-yuan-of-a-week)

After three straight days of devaluing the yuan against the U.S. dollar, the Chinese central bank left it alone Friday. Rejoice! But the market place is still feeling the crunch of this week’s devaluation of the yuan by around 3%. China’s fragile economy is adding to worries about world price deflation.

And remember Greece? Well, Greek lawmakers approved the country’s third bailout agreement with international creditors on Friday morning after an all-night debate in parliament. But just when you thought the drama was over, Greek prime minister, Alexis Tsipras is likely facing a no-confidence vote among parliament’s members.

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After Q2 earnings season for the gold miners began July 29 – the gold miners completed the reporting of their quarterly results. Brent Cook, a famed geologist, told Kitco News this week that one thing stood out besides the dire numbers. “On the whole, they are still free cash flow positive,” he said.

We also had news from the World Gold Council (WGC) this week, it reported that world gold demand fell to a six-year low. The decline was blamed largely on less buying from the two largest gold-consuming nations of China and India. The WGC said prospects for the jewelry market “look healthier” for the remainder of 2015, particularly with the upcoming wedding season in India.

For the full report, and many more exciting and relevant news stories,

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