Gold = XAUCNY divided by USDCNY
After reading the article noted below, I decided to plot USDCNY, XAUCNY and GOLD, overlayed on a chart showing the computed value of XAUCNY divided by USDCNY. It strikingly shows the correlation between the two pairs, and how it accurately aligns with the XAUUSD (Gold) valuations.
That being said, it would make sense to watch the Chinese Yuan closely to get a true feel for the trend of gold going forward.
zerohedge.com/news/2018-11-02/gold-bottoms-when-us-stock-market-crashes-andor-usdcny-peaks
That being said, it would make sense to watch the Chinese Yuan closely to get a true feel for the trend of gold going forward.
zerohedge.com/news/2018-11-02/gold-bottoms-when-us-stock-market-crashes-andor-usdcny-peaks
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