Shanghai Gold Boss Wants Super-Sovereign Currency

Shanghai Gold Boss Wants Super-Sovereign Currency

The president of the Shanghai Gold Exchange (SGE) called for a new super-sovereign currency to offset the global dominance of the U.S. dollar, which he predicted would decline long term, while gold prices rally. Concern has mounted among some market participants over...
Central Banks Ring In The New Year With Gold

Central Banks Ring In The New Year With Gold

To welcome the new year, the People’s Bank of China (PBoC) is doing the same thing it did last year: trying to boost the world’s second-largest economy by reducing the total number of deposits that commercial banks are mandated to set aside as reserves. Last year,...
Central Bank Gold Rush: Three More Nations Ditch The Dollar

Central Bank Gold Rush: Three More Nations Ditch The Dollar

Central banks are going after gold in 2019, boosting holdings as economic growth slows, trade and geopolitical tensions rise, and some authorities seek to diversify their reserves away from the dollar. The People’s Bank of China said Monday it raised reserves for a...
China Hopes To Launch Cryptocurrency By 11/11/19

China Hopes To Launch Cryptocurrency By 11/11/19

China’s central bank — the People’s Bank of China — has developed a prototype of a cryptocurrency that it could end up in circulation in the near future. It would be introduced alongside the China’s primary currency the renminbi (also called the yuan). China will...