Money Morning

How Yuan Reserve Currency Approval Will Doom the Dollar


The IMF yuan reserve currency approval, announced today (Monday) by IMF Managing Director Christine Lagarde, has sealed the fate of the U.S. dollar.

As of Oct. 1, 2016, the Chinese yuan will become part of the International Monetary Fund’s basket of reserve currencies, joining the euro, the Japanese yen, the British pound, and the U.S. dollar.

Why Today’s Gold Price Is So Low Right Now


As it turns out, Black Friday’s best sales were neither in electronics, clothing, or gadgets. Instead, they came from today’s gold price.

That’s because on the biggest shopping day of the year, gold prices hit a new six-year low.

Closing at $1,055.90 per ounce on Friday, Nov. 27, on the New York Mercantile Exchange, gold’s popularity seemed to also hit a new low since the February 2010 price of $1,045 per ounce.

But as you’ll see, while the near-term reasons for a lower gold price are familiar ones, the reaction to these low prices was not typical…

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