How Could Yuan Reserve Currency Status Affect Gold? - Jim Rickards

China's quest to get the yuan recognized as a reserve currency by the International Monetary Fund (IMF) could trickle down to affect gold, says Jim Rickards, best-selling author of Currency Wars and The Death of Money. Rickards explains that there is a current peg between the U.S. dollar and the Chinese yuan, "the currency wars are being fought around the world, but there is a sort of a lull in the fighting between the U.S. and China right now." Rickards does foresee the dollar eventually correcting. "The strong dollar is killing the US economy, this is part of the currency wars... [A]ll this is the opposite of what the Fed wants..." He also comment on the situation in Europe, saying that he does not foresee a Grexit. Tune in now for more insights from a well-known name in our industry. Kitco News, June 24, 2015. (show less)

China's quest to get the yuan recognized as a reserve currency by the International Monetary Fund (IMF) could trickle down to affect gold, says Jim Rickards, best-selling author of Currency Wars and The Death of Money. Rickards explains that there is a current peg between the U.S. dollar and the Chinese yuan, "the currency wars are being fought around the world, but there is a sort of a lull in the fighting between the U.S. and China right now." Rickards does ... (read more)

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The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

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