Global financial markets are being rocked by the surprise devaluation news from China. Equities, especially those in companies exporting to or competing with China, are being sold while safety is being sought in bonds. Commodities are also reeling, with oil, copper and soybeans selling off while gold might see a change in sentiment as Chinese investors seek a hedge against a falling currency and also because Fed hike expectations are now reduced.
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Is gold getting back its moxie?
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