$ Downtrend: benefits for consumers?

President’s Donald Trump public statement on a government shutdown in favour to build a wall on the country’s border with Mexico has furthered the $ slippery trend while gold inched higher on Wednesday (23/08/17)

Spot gold was up 0.1 percent to $1,285.40 an ounce by 0358 GMT, after shedding 0.5 percent in the previous session.

U.S. gold futures for December delivery were unchanged at $1,291.30 per ounce.

The downtrend of the $ as it stands now could be beneficial to our Mauritian imports – (almost 70% of our imports are transacted with US$) and the prices of consumers goods will likely follow suit.

 

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