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China fixes yuan at more than five-year low against dollar
By Gregor Stuart Hunter
The Wall Street Journal
Monday, May 30, 2016
China's central bank set the daily yuan fixing at its weakest level against the dollar in more than five years on Monday, after hawkish comments from Federal Reserve Chairwoman Janet Yellen boosted the strength of the U.S. currency.
The People's Bank of China set its daily reference rate for the yuan at 6.5784, the weakest level since February 2011 and 0.45 percent lower than Friday's fixing point. Onshore, the yuan is allowed to trade 2 percent above and below the so-called fix.
The U.S. dollar index, which tracks the dollar's strength against a basket of six currencies, rose 0.4 percent to 95.888 in early Asian trading. The move follows Yellen's comments late Friday that it would be "appropriate" for the Fed to "gradually and cautiously" increase interest rates in the coming months. ...
... For the remainder of the report:
http://www.wsj.com/articles/china-fixes-yuan-at-more-than-five-year-low-...
The Gold Mine Barrick Might Regret Having Sold
K92 Mining is poised for production at its Papua New Guinea gold project and has just listed on the Toronto Venture exchange under the symbol KNT.V.
The gold mining startup came together during one of the toughest periods in mining history.
K92's main asset is the Kainantu project, a large high-grade gold resource with extensive infrastructure including underground mine development, a mill processing facility, a fully permitted tailings pond, and paved roads. The infrastructure means K92 can aim to restart mining in the near term with minimal capital costs and seek to grow through cash-flow funded exploration on the roughly 405-square kilometer property, considered prospective for additional discoveries.
For more information, please visit:
https://ceo.ca/@tommy/the-gold-mine-barrick-might-regret-selling
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
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Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
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