Gold At $64,000 – Bloomberg’s ‘China Gold Price’
By GCRU Gold News on Saturday, June 6 2015, 02:13 - Permalink
The Chinese have been quite overt in recent months in their ambition to establish the yuan as a rival reserve currency and it is likely that they intend gold to play a role in that ambition.
If China were to even partially back its currency with gold it would gain further favour across the world as a reliable reserve currency when viewed against the increasingly debased U.S. dollar.