No one has ever given me a coherent explanation for why the listing of a Yuan denominated oil futures contract would be good for the price of gold.
I suspect that they think that increased use of Yuan to settle oil purchases will decrease the demand for US dollars, which will cause a collapse in the US dollar, causing a rush to purchase gold as a protection against lost purchasing power, causing the price of gold to rise making all the HotCopper investors rich over night...
Is that the argument? Help me out here!
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Yuan Oil Contract, page-4
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