Gold and USD/CNY

Gold And USD/CNY – It’s Still About The US Dollar

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GOLD AND USD/CNY

My last article, Gold And The Elusive Chase For Profits/The Case For Gold Is Not About Price, generated the following anonymous comment:

“Gold is now pegged to CNY not USD.”

I responded as follows…

“All currencies are substitutes for real money, i.e. gold.  And all governments inflate and destroy their own currencies. Whether gold is priced in yuan, SDRs, or dollars, doesn’t matter. The case for gold is not about price (in any currency). It is about value. Gold is real money and a store of value.”

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