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China’s Gold Investment at Risk as Beijing Frees Yuan
Thursday, November 5, 2015 12:29
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by Clara Denina
Reuters.com
LONDON, Nov 5 (Reuters) – Appetite for gold in China, which accounts for one fifth of global investment demand, could fall in the long term as the country moves to free the yuan, enabling savers to gain direct access to foreign stocks or bonds.
In its latest five-year plan last month, a blueprint for China’s economic and social development, Beijing committed to liberalise its capital account in the Shanghai free trade zone, as part of efforts to making the yuan more convertible.
It also plans to expand its role in international trade and investment.
Freer capital flows eventually would involve freedom of movement of cash and by implication freedom of movement of gold.
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Source: http://financialsurvivalnetwork.com/2015/11/chinas-gold-investment-at-risk-as-beijing-frees-yuan/?utm_source=rss&utm_medium=rss&utm_campaign=chinas-gold-investment-at-risk-as-beijing-frees-yuan
