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Thegooch,By buying up gold, they can support the RMB or yuan. It...

  1. Socrates44
    1,110 Posts.
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    19/10/12
    16:12
    Post #: 10885682
    Thegooch,

    By buying up gold, they can support the RMB or yuan. It is a nice way of making the yuan an alternative trading currency to the US dollar.

    Also, it will allow the yuan to appreciate against the dollar, making it cheaper for China to import commiditoes fom places like Australia.

    That is their strategic view
    Value at posting: $0.00
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    lightbulb Created with Sketch.  Great analysis
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