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Why China Wants Yuan-Denominated Gold

Posted on 28 April 2016

It’s crucial to understand the potential benefits for China of having yuan-denominated gold. Besides internationalization, the fix may also increase the liquidity and efficiency of the gold markets. Yuan-denominated gold may also reduce the dependency of gold on the US dollar, though this may not hold true in the short run. In the longer run, gold may untangle from the US dollar.
According to the World Gold Council, in 2015, China’s gold demand hit 984.5 tons. The initiation of the yuan benchmark for gold is aimed at increasing the usage of the yuan as a global currency………………………………………..Full Article: Source


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