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Andreas in Insider trading,

Gold jumps as China devalues Yuan

AsiaPac stocks are extending losses in early trading asit appears fears about the Chinese corporate bond market bubble are also on the minds of Chinese regulators as they look to "boost reforms." After the PBOC has fixed the Yuan stronger for 8 straight days, the onshore and offshore Yuan has weakened appreciably in the last 24 hours and PBOC has devalued Yuan by 177pips - the biggest in 2 months (as PBOC researchers push to "speed up Yuan internationalization" and implicitly inclusion in the SDR basket).

Gold jumped on the Yuan devaluation...

What do you think about the attempts of China to globalize its currency and how it will affect Gold?