Australian banks Australian LNG Commodities Gold Iron ore price

Dirt to Heaven, gold to Hell as yuan craters

Thursday, 24 November 2016

It’s a strange old world when dirt is worth everything and gold nothing! But’s that what we’ve got as the yuan craters:

Dalian is open and and the iron bubble is floating towards heaven again, up 4%. BHP is flat, RIO -0.6%, FMG -1.4% and WHC -2.1%:

Big Gas is likewise fading as oil pulls back:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.