Guld följer numer Kinesiska Yuan mer än någon annan valuta
This week’s chart shows that the movements of gold prices are pretty tightly tied to the movements of the Chinese yuan.
Old-school monetarists have longed for a return to having gold as the real reserve currency. So here is a fun quandary: suppose you’re a hard-core auriphile, longing for a return to gold being the world’s reserve currency. Suppose you could get what you have longed for, but with a price: China gets to call the shots. Do you accept the deal?
This week’s chart shows that the movements of gold prices are pretty tightly tied to the movements of the Chinese yuan. So if gold prices are ever going to start trending higher again, then the yuan is going to have to go along for the ride, or perhaps even lead the way. That’s assuming that the correlation continues to hold up as it has been doing since around August 2016.