GOLD PRICES in China and Japan – the world's 2nd and 3rd largest national economies respectively – hit fresh all-time highs on Monday as both the Yuan and the Yen continued to weaken against the Dollar on the FX market,  writes Atsuko Whitehouse at BullionVault.

US Dollar gold meanwhile steadied on Monday after rallying into the end of the summer amid speculation that the Federal Reserve has reached the end of its rate-raising cycle as Beijing tries to stabilize China's economy with a steady drip of policy stimulus measures.

"Gold is also one way locals can hedge against CNY depreciation," say analysts at Citi Research of the Chinese currency.

The Yuan has weakened by more than 5% against the US Dollar so far this year, including a 1.6% drop in August which saw the People's Bank of China on Friday cut the amount of foreign currency that financial institutions are required to hold in reserve.

Read the full article at:  Yuan and Yen Depreciation Sees Gold Prices Hit Fresh Record Highs | Gold News (bullionvault.com)