Commodity Trade Mantra

Posts Tagged ‘China Gold News’

Internationalization Renminbi Requires Increase In Gold Reserves

China has a great interest to support the renminbi with gold, having an x amount of tonnes at the PBOC, to give their currency trust and credibility. A gold backed renminbi is completely unrealistic at this point because the renminbi is still in it’s infancy – capital controls need to be lifted, full convertibility needs to implemented, etc.

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