Gold: The Chinese Connection

Unless you have been under a rock for the past few months, you know there is an escalating trade war going on between the U.S. and China. The U.S. is imposing tariffs on Chinese products, and China is responding in kind. But the Chinese have more retaliatory options available to them than just tariffs, and it seems they are already using them.

 

 

Since its low at 6.2470 on March 27, the USD/CNY exchange rate has risen 6% to 6.6150. Put a different way, that’s a 6% “devaluation” of the yuan.

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