Gold Demand in China Is Rising Due To Investment Trading Opportunities

The gold industry is constantly undergoing changes these days. China has been importing more gold than ever before, thanks to new banking deals to lease bullion. In doing so, the government will attempt to mask the decrease of household gold demand from the official trade data. All of this is good news for gold bugs, though, as this may have an impact on the gold price per ounce. Gold Is Used For A Different Purpose in China There are multiple reasons as to why China is importing more gold all of a sudden. The new gold-leasing deals offered by the … Continue reading Gold Demand in China Is Rising Due To Investment Trading Opportunities

The Return of Gold-backed Fiat Currencies Is On The Horizon

China’s economy has been attracting a lot of attention – both positive and negative – in recent years, which has caused a fair amount of financial turmoil. There have been talks of creating a gold-backed yuan for quite some time now, although those plans have not come to fruition just yet. On the other hand, there is the China International Payment System to keep an eye on. Exciting times, or should investors be worried? The China International Payment System As the name suggests, the CIPS is a direct competitor for SWIFT in the Western world. Thanks to the country’s somewhat … Continue reading The Return of Gold-backed Fiat Currencies Is On The Horizon

China Part of Special Drawing Rights: Bullish For Bitcoin

The Chinese Renminbi has been approved by the IMF to be a part of the basket of currencies that make up the Special Drawing Rights (SDR). The other currencies include the US Dollar, the English Pound, the Japanese Yen and the Euro. What is most surprising about this move is that the yuan now makes up more of the basket (10.92%) than the Yen (8.33%) and the Pound (8.09%). In order to get the yuan included, china has had to make economic reforms and open up transparency to its central bank. It also has had to devalue the yuan (vs … Continue reading China Part of Special Drawing Rights: Bullish For Bitcoin