Gold Rises As Yuan's Devaluation Uncertainty Looms

Precious-Gold rose on Monday after posting its first weekly advance since June last week after China's devaluation raised expectations the Fed would delay its rate hike decision. The yellow metal hit a high of $1119.84 an ounce, while it currently trading at $1117.87, after opening at $1114.25. Although the yuan stabilized today, but still there is uncertainty, whether it would continue its drop versus dollar, thereby providing haven demand on bullions.

from Energy and Metal Commentaries http://ift.tt/1hHpzTC