China devaluation sparks gold buying everywhere – except China

After last week’s surprise yuan devaluation investors everywhere were eager to buy gold as a haven. Everywhere, that is, except in China. Huaan Yifu Gold ETF, the bullion exchange-traded product with the biggest volume in China over the past month, posted a third straight weekly outflow as of Aug 14. The withdrawal came even as global ETPs posted the first increase of assets since late June...Read More