Interesting. Can you share any web links to articles where we can learn more about this Chinese arbitrageur private buying of gold from Aus miners?
I have trouble imagining the RMB as a global reserve currency. For starters the RMB needs much better forex stability, and I don't know if the central banks can ensure that. Also, the gold backed RMB idea seems far fetched. Their govt has insane debt, worse than the Fed, ECB or BoJ. I doubt any amount of gold reserves they hold would cover a quarter of China's govt debt. If they backed the RMB by gold they would risk a massive sale of all their gold and then what happens when they have no gold left?
Anyway, please tell me more about the Chinese buying gold from Aus. Because I want to learn how that trade might stop.
Fundamentals haven't changed, page-652
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$17.18 |
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Mkt cap ! $18.16B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 28459 | $17.18 |
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