Quotes from the news wire:
Gold’s pain over the last couple of months has been the rising Treasury yields and now that has pretty much been alleviated, the current outlook for the global economy is still mixed... You’re going to see a much more cautious approach in the next quarter and that’s probably going to see gold start to see some safe haven flows.
This has been a disappointing week on many fronts, there’s been no progress on COVID aid relief talks in DC, we have Brexit, which is once again going to go down to the wire, and coronavirus deaths and hospitalizations are still at a staggering pace in the U.S. and it’s likely to lead to more restrictive measures and lockdowns.
Continued yuan depreciation should be expected, albeit in a staggered pace. Beijing is likely to tolerate further weakness and we could see another 5 % before the end of the year, the US is likely to counter the breach of the critical 7 level to the dollar with verbal intervention. Currency wars are taking center stage.