The Golden Yuan

A Gold-Backed Yuan to Compete With the Dollar?

In January 2023 GoldFix said the following in light of broken USD correlations:

China continues to buy Gold as the Yuan strengthens against the dollar. We believe this is a major secular trend as assets (Gold) start to trade in local currency (Yuan) due to policy changes (like China buying Gold for Yuan backing)

Source: Golden Yuan

Others are now seeing …