Gold, page-3327

TT

"The AIIB uses USD? Seems so strange that the US would vehemently oppose it..."

I doubt whether the signatories cared too much about what the US thinks. They are using the US dollar because the principal markets in which the contributors price their domestic currency is against the US dollar. So the US dollar's value is a universal measure they all share.

It is yet to be seen what currencies the signatories contribute in. I would expect their own.

It will also be interesting to see what currencies loans and grants are denominated in. That will depend on where the recipients are domiciles and/or what currencies are required to fund their particular projects.

The are a lot of unknowns about how the AIIB will structure its business. We will know more next year.

One thing we can be confident of is that will have little or no impact on the US dollar or the price of gold.

Andy loves to throw these stories in to the gold discussion, but they are almost always irrelevant.