This is a very important precious metals update by Tom Cloud. Tom discusses important trend changes that will impact the gold market going forward. One of the trend changes is that China will announce within the next month for the SDR – Special Drawing Rights (IMF) its gold and Dollar holdings.
Four years ago when China applied for the SDR, only 900 organizations and banks took the Yuan, Chinese currency, for payment. According to the Heritage Foundation, 10,000 organizations and banks are now taking the Yuan for payment. This will significantly jump after Oct. 1st, when China announces their Dollar & gold holdings.
Tom also discusses two other important trend changes in the precious metals update below:
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