{"id":19478,"date":"2019-11-22T21:00:20","date_gmt":"2019-11-22T21:00:20","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19478"},"modified":"2019-11-22T21:02:51","modified_gmt":"2019-11-22T21:02:51","slug":"gold-treasuries-and-chinas-yuan","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/","title":{"rendered":"Gold, Treasuries and China&#8217;s Yuan"},"content":{"rendered":"<p>China&#8217;s Yuan retreated against the Dollar, encountering resistance at 14.35 US cents as the seemingly endless trade talks hit another rough patch. Breach of recent support 14.15 would warn of another test of primary support at 14 cents.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-22-cny.png?w=525&#038;ssl=1\" alt=\"Chinese Yuan CNY\/USD\" \/><\/p>\n<p>Chinese purchases have weakened 10-Year Treasury yields in the last two weeks. A Yuan at 14 cents is likely to result in 10-year yields testing support at 1.50%. The disconnect between long-term and short-term rates in the US is growing, with long-term rates increasingly dictated by actions at the PBOC.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-22-tnx.png?w=525&#038;ssl=1\" alt=\"10-Year Treasury Yields\" \/><\/p>\n<p>Declining yields strengthen demand for Gold as it lowers the opportunity cost. Expect continued support at $1450\/ounce and a possible test of the descending trendline at $1500. Breach of support is unlikely unless Treasury yields again test resistance at 2.0%.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-22-gold.png?w=525&#038;ssl=1\" alt=\"Gold (USD\/ounce)\" \/><\/p>\n<p>Silver is similarly testing support at $17.00\/ounce but we are unlikely to see a follow-through unless Treasury yields strengthen.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-22-silver.png?w=525&#038;ssl=1\" alt=\"Silver (USD\/ounce)\" \/><\/p>\n<p>Australia&#8217;s All Ordinaries Gold Index continues in a downward trend channel, headed for secondary support at 6000. Declining Trend Index peaks warn of strong selling pressure. Respect of 6000 would signal that the primary up-trend is intact, while breach and a test of primary support at 5400 would warn of trend weakness.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-22-xgd.png?w=525&#038;ssl=1\" alt=\"All Ordinaries Gold Index\" \/><\/p>\n<h3>Patience<\/h3>\n<p>Gold remains in a long-term up-trend. A correction may offer an attractive entry point but we first need to confirm that the up-trend is intact before increasing exposure to gold stocks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s Yuan retreated against the Dollar, encountering resistance at 14.35 US cents as the seemingly endless trade talks hit another rough patch. Breach of recent support 14.15 would warn of another test of primary support at 14 cents. Chinese purchases have weakened 10-Year Treasury yields in the last two weeks. A Yuan at 14 cents &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold, Treasuries and China&#8217;s Yuan&#8221;<\/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":[31,42,9],"tags":[70,678,4091,3204,3206],"class_list":["post-19478","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-chinese-yuan","category-gold-precious-metals","tag-10-year-treasury-yields","tag-chinese-yuan","tag-cnyusd","tag-spot-gold","tag-spot-silver"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold, Treasuries and China&#039;s Yuan - 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=\"Gold, Treasuries and China&#039;s Yuan - the patient investor\" \/>\n<meta property=\"og:description\" content=\"China&#8217;s Yuan retreated against the Dollar, encountering resistance at 14.35 US cents as the seemingly endless trade talks hit another rough patch. Breach of recent support 14.15 would warn of another test of primary support at 14 cents. Chinese purchases have weakened 10-Year Treasury yields in the last two weeks. A Yuan at 14 cents &hellip; Continue reading &quot;Gold, Treasuries and China&#8217;s Yuan&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-22T21:00:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-22T21:02:51+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-11-22-cny.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Gold, Treasuries and China&#8217;s Yuan\",\"datePublished\":\"2019-11-22T21:00:20+00:00\",\"dateModified\":\"2019-11-22T21:02:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/\"},\"wordCount\":226,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-11-22-cny.png\",\"keywords\":[\"10-Year Treasury Yields\",\"Chinese Yuan\",\"CNYUSD\",\"Spot Gold\",\"Spot Silver\"],\"articleSection\":[\"Banks &amp; Interest Rates\",\"Chinese Yuan\",\"Gold &amp; Precious Metals\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/\",\"name\":\"Gold, Treasuries and China's Yuan - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-11-22-cny.png\",\"datePublished\":\"2019-11-22T21:00:20+00:00\",\"dateModified\":\"2019-11-22T21:02:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-11-22-cny.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-11-22-cny.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold, Treasuries and China&#8217;s Yuan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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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\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold, Treasuries and China's Yuan - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Gold, Treasuries and China's Yuan - the patient investor","og_description":"China&#8217;s Yuan retreated against the Dollar, encountering resistance at 14.35 US cents as the seemingly endless trade talks hit another rough patch. Breach of recent support 14.15 would warn of another test of primary support at 14 cents. 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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-54a","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":19508,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/30\/gold-kill-the-chicken-to-scare-the-monkey\/","url_meta":{"origin":19478,"position":0},"title":"Gold: Kill the chicken to scare the monkey","author":"Colin Twiggs","date":"November 30, 2019","format":false,"excerpt":"10-Year Treasury yields retreated from resistance at 2.0%, helped by increased Chinese purchases. Evidenced by the Yuan falling against the US Dollar. Breach of recent support 14.15 would warn of another test of primary support at 14 cents. Further Yuan weakness and lower Treasury yields are likely after President Trump\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19817,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/22\/gold-soars-as-treasury-yields-fall\/","url_meta":{"origin":19478,"position":1},"title":"Gold soars as Treasury yields fall","author":"Colin Twiggs","date":"February 22, 2020","format":false,"excerpt":"10-Year US Treasury yields broke long-term support at 1.50%, warning of another test of record 2016 lows at 1.33%. The yield curve can be expected to invert any day now, with the 10-year\/3-month differential headed for zero. The Dollar Index is testing resistance at 100. Breakout would signal a long-term\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19036,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/10\/10\/gold-low-interest-rates-and-volatile-currencies\/","url_meta":{"origin":19478,"position":2},"title":"Gold, low interest rates and volatile currencies","author":"Colin Twiggs","date":"October 10, 2019","format":false,"excerpt":"Gold is in a primary up-trend, after ranging sideways for several years, fueled by low interest rates and volatile currency markets. The chart below highlights the inverse relationship between gold and 10-year Treasury yields. When LT interest rates fall, the gold price surges. At present, 10-year Treasury yields are close\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25325,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/04\/17\/gold-rallies-as-treasury-yields-fall\/","url_meta":{"origin":19478,"position":3},"title":"Gold rallies as Treasury yields fall","author":"Colin Twiggs","date":"April 17, 2021","format":false,"excerpt":"Spot Gold broke resistance at $1750\/ounce completing a small double bottom reversal with a target of $1825. Breakout above the trend channel would signal that a bottom is forming. But expect retracement to first test support at $1750. The rally is driven by falling Treasury yields, with the 10-year TIPS\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19761,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/08\/gold-lags-as-dollar-surges\/","url_meta":{"origin":19478,"position":4},"title":"Gold lags as Dollar surges","author":"Colin Twiggs","date":"February 8, 2020","format":false,"excerpt":"The Dollar Index broke resistance at 98, as coronavirus fears spread, signaling another test of 100. The stronger Dollar is a headwind for Gold. China's Yuan broke support at 14.35 US cents, penetration of the rising trendline warning of a correction to test primary support at 14 cents. 10-Year US\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","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":19786,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/14\/strong-dollar-rains-on-golds-parade\/","url_meta":{"origin":19478,"position":5},"title":"Strong Dollar rains on Gold&#8217;s parade","author":"Colin Twiggs","date":"February 14, 2020","format":false,"excerpt":"The Dollar Index is headed for another test of resistance at 100; a headwind for Gold. China's Yuan is consolidating below support at 14.35 US cents. Follow-through below recent lows is likely, warning of a test of primary support at 14 cents. 10-Year US Treasury yields continue to test primary\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19478","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=19478"}],"version-history":[{"count":3,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19478\/revisions"}],"predecessor-version":[{"id":19481,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19478\/revisions\/19481"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}