Gold surged to new 4-week highs, boosted by safe-haven demand in the face of further sharp losses in U.S. stocks. Waning expectations of a September rate hike have also weighed somewhat on the dollar, which is helping to underpin the yellow metal.
Chinese shares saw another volatile day: After dropping more than 6% on Tuesday, the Shanghai Composite was down another 5% intraday, before rebounding into the close. The DJIA is presently down more than 200 points, amid rising concerns about the state of the global economy.
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