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Spot Gold faces pressure on China VAT move – ING

Spot Gold comes under renewed pressure as China ends the VAT rebate for gold sales, raising costs for both investors and consumers, ING's commodity experts Ewa Manthey and Warren Patterson note, ING's commodity experts Ewa Manthey and Warren Patterson note.

China ends Gold retail tax rebate

"Spot Gold prices have come under some renewed pressure with China announcing the end of a tax rebate for some retailers, basically bringing an end to a VAT offset when selling Gold that was bought from the Shanghai Gold Exchange. The move will cover both investment and non-investment Gold, and essentially makes Gold more costly for Chinese consumers."

USD/JPY surges past multi-month trendline – Société Générale

USD/JPY has broken above a descending trendline after consolidating near 149, signaling further upside toward 155.40–156.50, Société Générale's FX analysts note.
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USD/JPY: Watching for signs of intervention – OCBC

Move higher in USD/JPY was a reflection of hawkish Fed cut and disappointment over dovish BOJ hold. USD/JPY last seen at 154.16 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
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