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Does China plan to use gold to internationalize the yuan?

Posted on 14 February 2014

Concerns about high debt and an overvalued currency are sucking gold imports into China, according to a new report from Lombard Street Research. It adds that the authorities may possibly be moving in the direction of using gold in a plan to make the yuan an international currency.
Beijing has said that it does not view gold as a useful asset for diversifying the country’s $3.8 trillion worth of foreign exchange reserves, according to media reports………………………………………..Full Article: Source


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