Thanks for the links and insights. So if gold is being pegged to the RMB (by whatever means), which cannot be denied for the past few months, then it makes sense that the RMB becomes relatively stable, since the gold price is such. However that also means the XAU/USD price is not going substantially up any time soon - right?
It's very interesting to think about China's grand plan here. No doubt to anyone that China wants to reduce/avoid trade depending on the USD, and the price of oil and gold are key instruments. However what's China's end-game and time frame for the price of gold?
It's also interesting that gold is such a hated asset in the west at present, meanwhile here it is as a major instrument in a major currency (and trade) war. Feels like something has to break, on the other hand China seeking stability.
Fundamentals haven't changed, page-654
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