{"id":16888,"date":"2018-08-24T22:53:54","date_gmt":"2018-08-24T22:53:54","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16888"},"modified":"2018-08-24T22:53:55","modified_gmt":"2018-08-24T22:53:55","slug":"support-for-the-yuan-lifts-gold","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/24\/support-for-the-yuan-lifts-gold\/","title":{"rendered":"Support for the Yuan lifts Gold"},"content":{"rendered":"

China’s PBOC stepped in with belated support for the Yuan, holding the line at 14.5 US cents.<\/p>\n

\"CNY\/USD\"<\/p>\n

The Dollar retreated, with the Dollar Index testing support at 95. Respect of support would confirm another advance, with a long-term target of 103 \u2014 if central banks like the Fed and PBOC don’t intervene.<\/p>\n

\"Dollar<\/p>\n

Gold rallied as the Dollar weakened, testing resistance at $1200\/ounce. Respect of the descending trendline would warn of another decline with a long-term target of the 2015 low at $1050\/ounce.<\/p>\n

\"Spot<\/p>\n

The Australian Dollar also rallied, reducing the benefit to local gold miners.<\/p>\n

\"Australian<\/p>\n

The All Ordinaries Gold Index (XGD) continues its downward path, with a long-term target of 4000\/4100.<\/p>\n

\"All<\/p>\n

China is conserving its capital account as best it can, after losing $1 trillion in foreign reserves supporting the Yuan in 2015 – 2016.<\/p>\n

\"China:<\/p>\n

But failure to support its currency is sure to antagonize the Trump administration and elicit further trade tariffs.<\/p>\n

….Trade is drying up and China is stuck with debt it can\u2019t repay or rollover easily. This marks the end of China\u2019s Cinderella growth story, and the beginning of a period of economic slowdown and potential social unrest.<\/p>\n

~ Jim Rickards at Daily Reckoning<\/a><\/p><\/blockquote>\n

If that’s the case, expect the Dollar to strengthen and further gold weakness.<\/p>\n","protected":false},"excerpt":{"rendered":"

China’s PBOC stepped in with belated support for the Yuan, holding the line at 14.5 US cents. The Dollar retreated, with the Dollar Index testing support at 95. Respect of support would confirm another advance, with a long-term target of 103 \u2014 if central banks like the Fed and PBOC don’t intervene. Gold rallied as … <\/p>\n

Continue reading “Support for the Yuan lifts Gold”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39,40,41,42,9,34,35],"tags":[166,292,663,678,1073,1441,1578],"class_list":["post-16888","post","type-post","status-publish","format-standard","hentry","category-aussie-dollar","category-australia-nz-countries-regions","category-china-hk","category-chinese-yuan","category-gold-precious-metals","category-us-canada-countries-regions","category-us-dollar-index","tag-all-ordinaries-gold-index","tag-australian-dollar","tag-china","tag-chinese-yuan","tag-dollar-index","tag-foreign-reserves","tag-gold-2"],"yoast_head":"\nSupport for the Yuan lifts Gold - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Support for the Yuan lifts Gold - the patient investor\" \/>\n<meta property=\"og:description\" content=\"China’s PBOC stepped in with belated support for the Yuan, holding the line at 14.5 US cents. The Dollar retreated, with the Dollar Index testing support at 95. Respect of support would confirm another advance, with a long-term target of 103 \u2014 if central banks like the Fed and PBOC don’t intervene. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4oo","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":16934,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/01\/gold-reacts-to-dollar-weakness\/","url_meta":{"origin":16888,"position":0},"title":"Gold reacts to Dollar weakness","author":"Colin Twiggs","date":"September 1, 2018","format":false,"excerpt":"The Yuan continues to find support at 14.5 US cents. The Dollar Index is testing support at 95. Respect of support would confirm another advance, with a long-term target of 103, but declining Trend index peaks warn of selling pressure. Gold rallied to $1200\/ounce but failed to make further progress.\u2026","rel":"","context":"In "Aussie dollar"","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17087,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/22\/aussie-gold-stocks-rally\/","url_meta":{"origin":16888,"position":1},"title":"Aussie gold stocks rally","author":"Colin Twiggs","date":"September 22, 2018","format":false,"excerpt":"Gold continues to find resistance at $1210\/ounce. Trend Index peaks below zero warn of selling pressure. Respect of resistance would indicate another decline and a long-term target of the 2015 low at $1050\/ounce. Currencies The PBOC is supporting the Yuan at 14.5 US cents. Support for the Yuan is driving\u2026","rel":"","context":"In "Aussie dollar"","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50386,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/03\/25\/china-steps-in-to-support-yuan\/","url_meta":{"origin":16888,"position":2},"title":"China steps in to support Yuan","author":"Colin Twiggs","date":"March 25, 2024","format":false,"excerpt":"China\u2019s Yuan pared losses seen Friday after the central bank signaled its support for the managed currency via a stronger-than-expected daily reference rate. (Bloomberg) The PBOC set the Yuan\u2019s fixing at 7.0996 per dollar on Monday, from 7.104 on Friday. The much lower fixing than the expected 7.222 causing the\u2026","rel":"","context":"In "Chinese Yuan"","block_context":{"text":"Chinese Yuan","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/chinese-yuan\/"},"img":{"alt_text":"Chinese Yuan","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-25-cny.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-25-cny.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-25-cny.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":16654,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/14\/gold-tests-support\/","url_meta":{"origin":16888,"position":3},"title":"Gold tests support","author":"Colin Twiggs","date":"July 14, 2018","format":false,"excerpt":"China continues to support the Yuan and we can expect consolidation around 15 US cents. Threat of trade tariffs is weakening the Yuan, forcing the PBOC to sell off foreign reserves to prevent a downward spiral as investors flee and borrowers hedge against the stronger Dollar. PBOC sale of foreign\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16524,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/06\/gold-dollar-and-the-yuan\/","url_meta":{"origin":16888,"position":4},"title":"Gold, Dollar and the Yuan","author":"Colin Twiggs","date":"July 6, 2018","format":false,"excerpt":"China's Yuan fell sharply over the last 3 weeks, with the threat of US trade tariffs. Risk of capital flight will force the PBOC to sell foreign reserves to support the Yuan. It took $1 trillion to stem the last fall, so expect a sizable sell-off in Chinese holdings of\u2026","rel":"","context":"In "Aussie dollar"","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13439,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/08\/gold-strengthens-as-dollar-weakens\/","url_meta":{"origin":16888,"position":5},"title":"Gold strengthens as Dollar weakens","author":"ColinTwiggs","date":"June 8, 2016","format":false,"excerpt":"Long-term interest rates continue their decline, with 10-year Treasury yields testing support at 1.65 to 1.70 percent. Breach would signal a test of the all-time (July 2012) low of 1.40 percent. Gold rallied in response, breaking initial resistance at $1250\/ounce to signal a test of $1300. The Chinese appear to\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"10-year Treasury yields","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-09-tnx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-09-tnx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-09-tnx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=16888"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16888\/revisions"}],"predecessor-version":[{"id":16889,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16888\/revisions\/16889"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}