Silver as an investment

Category Archives: Yuan

China’s ICO Crackdown Boosts Hong Kong’s Hopes Of Becoming Blockchain Hub

China’s decision to shutter digital-currency exchanges based on the mainland, a strategy meant to extinguish the rampant fraud and abuse associated with initial coin offerings, or ICOs, is brightening Hong Kong's hopes of asserting itself as a hub for blockchain technology. As Bloomberg reports, while China has at least nominally embraced blockchain technology – even […]

“If This Trade Doesn’t Work, You Can Blame Me…”

Authored by Kevin Muir via The Macro Tourist blog, In July I wrote a piece titled, “Is the real US Dollar Pain Trade Lower?”. At the time the US dollar was sucking wind, but many traders were still playing for a bounce. The prevailing wisdom was that the Fed’s tighter monetary policy, combined with Trump’s […]

Offshore Yuan Tumbles To 2-Week Lows, Biggest Drop Since Election

Offshore yuan has now dropped almost 16 handles in the last 8 days since Chinese officials voiced their concerns "about a rallying yuan as exporters come under strain." Tonight's tumble pushes the Yuan to its lowest since August for the biggest 8-day drop since the election…   And offers Trump some excuses to be mad […]

De-Dollarization Accelerates: China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold

Authored by Tsvetana Paraskova via, The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian Review reports. The […]

Precious Metals Outperform Markets In August – Gold +4%, Silver +5%

Precious Metals Outperform Markets In August – Gold +4%, Silver +5%  – All four precious metals outperform markets in August– Gold posts best month since January, up nearly 4%– Gold reaches highest price since US election, climbs due to uncertainty and safe haven demand– S&P 500 marginally higher; Euro Stoxx, Nikkei lower for month– Platinum is […]

Japan Sees Surge In Gold Smuggling As Yakuza & Wealthy Chinese Team Up

In a story that was seemingly tailor-made for the tabloids, Japanese news agency Nikkei is reporting that, in an unusual but tantalizing example of financial symbiosis, wealthy Chinese investors are teaming up with Yakuza gangsters to smuggle gold into Japan. The payoff for each side is simple: Chinese investors, who are increasingly fearful that a […]

Gold Market Morning: August-25-2017: Gold and silver prices waiting for Jackson Hole today! /  Julian D.W. Phillips  / 25 August 2017  Gold Today –New York closed yesterday at $1,286.20. Londonopened at $1,285.95 today.  Overall the dollar was slightly weaker against global currencies before London’s opening: –         The $: € was slightly weaker at $1.1799 after yesterday’s$1.1794: €1. –         The Dollar index was slightly weaker at 93.28 after yesterday’s93.31. –         The Yen was slightly weaker at 109.63 after yesterday’s 109.29:$1. –         The Yuan was slightly stronger at 6.6609 after yesterday’s6.6621: $1. –         The Pound Sterling was slightly stronger at $1.2822 afteryesterday’s $1.2807: £1 Yuan Gold Fix New York closed at $3.20 lower than Shanghai’s yesterday’s close. Today sees Shanghai holding just […]

Global Markets Rise As Shutdown Fears Recede; All Eyes On Wyoming As Jackson Hole Begins

U.S. stock-index futures are fractionally in the green as European shares rise, Asia is mixed and oil drops modestly. Global risk staged a rebound and markets unwound some of yesterday’s safe-haven moves as U.S. government shutdown fears receded and concerns about the Trump administration’s ability to enact its fiscal agenda were put on the back-burner […]

Gold Market Morning: August-21-2017: Gold and silver building strength below $1,300 as currencies calm! / Julian D.W. Phillips / 21 August 2017 Gold Today –New York closed Friday at $1,291.60. London opened at $1,285.00 today.  Overall the dollar was slightly stronger against global currencies, early today. Before London’s opening: –         The $: € was slightly stronger at $1.1740 after the Friday’s$1.1750: €1. –         The Dollar index was slightly stronger at 93.51 after Friday’s93.47. –         The Yen was slightly stronger at 109.03 after Friday’s 109.05:$1. –         The Yuan was stronger at 6.6717 after Friday’s 6.6769: $1. –         The Pound Sterling was weaker at $1.2875 after Friday’s $1.2896: £1 Yuan Gold Fix New York closed $4.00 higher than Shanghai’s close Friday. Then today sees Shanghai […]

“The Taps Are Gushing” Hong Kong ATM Withdrawals Surge As Facial Recognition Fears Spread

Amid a crackdown on unauthorized mainland currency outflows by forcing ATM users to undertake facial recognition before cash is dispensed in Macau, Hong Kong ATMs are reportedly being hit by a massive surge in withdrawals from China's UnionPay bank cards. As The South China Morning Post notes, the mainland has been strengthening regulations since last […]