Gold up

London
Gold rose for a fifth session in a row on Wednesday, hitting a fresh three-week high as the dollar and European equities slid on concerns over China's devaluation of its currency.
Earlier in the day, the People's Bank of China set the yuan's midpoint reference rate weaker than Tuesday's surprise 2 percent devaluation. The move sparked fears of a currency war and hit global equities, prompting some investors to seek assets perceived as safer such as gold.
The metal has now recovered more than three percent from a 5-1/2-year low of $1,077 during a late-July rout. Spot gold rose as much as one percent to its highest since July 20 at $1,119.80 an ounce in earlier trade and was up 0.8 percent at $1,117.76 by 0920 GMT.
US gold for December delivery gained 0.9 percent to $1,117.50 an ounce. Gold was lifted by a weaker dollar, down 0.9 percent against a basket of currencies, and lower US Treasury yields on doubts over whether the US Federal Reserve will raise interest rates in the wake of China's devaluation.