Gold was up in the early hours on Monday due to China announcing that they are re-adjusting the value of the yuan. The news was released over the weekend and after the market had time to soak in this information the markets started showing signs of retreating. Gold currently is down just shy of 7% to roughly $1234.80
So is this bad news? Of course not, Gold is temporarily on sale and now is a great time to start buying in. Remember, The trend is your friend and I currently see gold recovering and gaining very soon.
-Blogging4Bullion
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