updated Tue. February 27, 2024
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BullionVault
February 24, 2018
Among gold-backed exchange-traded vehicles, the giant SPDR Gold Trust ETF (NYSEArca:GLD) has expanded by 0.9% as gold prices have held ... and wholesale contracts in Shanghai also rallied, rising back towards pre-Chinese New Year holiday levels against the Yuan to hold a $6 premium aboveÃÂ ...
Express.co.uk
February 24, 2018
Nicolas Maduro, the country's president, said on Wednesday: “Next week I'm going to launch the petro gold, backed by gold, which is even more powerful, ... From the first minute the game started well, and we started winning: 4.777 billion yuan or 735 million dollars is the initial result of the operations ofÃÂ ...
Sputnik International
February 9, 2018
The second largest economy and biggest oil buyer in the world is at long last ready to start trading its own crude-futures in yuan, marking its transition to a hydrocarbon price setter. Challenging the traditionally dollar-denominated oil business, China will list local-currency crude futures in Shanghai on MarchÃÂ ...
The Market Oracle
February 5, 2018
A gold-backed dollar would also head off China's not too subtle attempt at replacement of the Greenback with the Yuan as the world's reserve currency. Its “Belt & Road Initiative,” its massive accumulation of gold, and other actions are all aimed at making the Yuan the dominant world currency which,ÃÂ ...
ValueWalk
January 22, 2018
Since 2012, China has hoped to price oil in yuan using gold-backed futures contracts in Shanghai. Yet, implementation depends on policymakers' balancing act between market stability, which has been seen vital since the 2015 market volatility, and internationalization, which would require reduced capitalÃÂ ...
The Market Oracle
January 20, 2018
The most important influence in 2018 and beyond is the announcement, made in 2017, that China will establish a gold-backed petro yuan. This will allow oil producers to sell oil to China in yuan, and then exchange yuan into gold via the Shanghai Gold Exchange. This will be in direct competition to the USÃÂ ...
Interest.co.nz
January 16, 2018
Against this backdrop, gold performed remarkably well. Investors continued to add gold to their portfolios, with inflows into global gold-backed exchange-traded funds totalling US$8.2bn. Over the course of the year the gold price rose across many major currencies. The Indian rupee and Chinese yuan goldÃÂ ...
RT
January 13, 2018
Maduro urges Latin American states to join oil & gold-backed cryptocurrency project ÷ Venezuela suggests global oil trade in Russian ruble & Chinese yuan ÷ Maduro urges Latin American states to join oil & gold-backed cryptocurrency project ÷ US imposes sanctions against 10 Venezuelan officials overà...
BullionVault
January 13, 2018
Amongst gold-backed trust funds, the giant SPDR Gold Trust (NYSEArca:GLD) ended Thursday unchanged in size even as the share price rose with the cost of bullion. Thanks to ... Priced in the Yuan, Shanghai gold rose only one-third as fast as global Dollar quotes for investment-grade bullion.
Winona Post
December 18, 2017
China has introduced a gold backed petro-yuan; they are also making deals with Russia and Saudi Arabia to buy their oil with the new petro-yuan. Also interesting to note is that the last two countries to try and sell their oil for anything other than U.S. dollars were Iraq and Libya. We are living in interestingÃÂ ...
Commodity Trade Mantra
December 15, 2017
The Shanghai International Energy Exchange is launching a crude-oil futures contract denominated in yuan, China's currency. This will allow oil producers ... After his death, plans for the gold-backed currency—along with Libya's 4.6 million ounces of gold—vanished. Chris Lowe: What's Russia's role in allÃÂ ...
FXStreet
October 24, 2017
A massive amount of hype is spreading regarding China's alleged ambitions to dethrone the dollar. The story this time involves China's plan is to price oil in yuan using a gold-backed futures contract. Even if that were true, the impact would be zero. Nonetheless, CNBC is now in on the hype. CNBC reportsÃÂ ...
Commodity Trade Mantra
October 23, 2017
Reporting from Denpasar, Indonesia, Damon Evans wrote, “China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.” Not bitcoin backed, not ethereum backed, g-o-l-d backed. How low tech of theÃÂ ...
Seeking Alpha
October 15, 2017
On September 1, 2017, the Nikkei Asian Review published an article titled, "China sees new world order with oil benchmark backed by gold", written by Damon Evans. Just below the headline in the introduction it states, "China is expected shortly to launch a crude oil futures contract priced in yuan andÃÂ ...
Seeking Alpha
October 6, 2017
The new oil futures contract in the yuan will reduce demand for the USD, dropping its value. China will need to increase its gold reserves to back the yuan-denominated futures contract sufficiently. A combination of increased demand for gold in china and a weaker USD will lead to higher gold prices in theÃÂ ...
Seeking Alpha
September 6, 2017
Amid an already very bullish environment for the appreciation of gold, a recent development could cause massive disruption in to today's global oil market: the imminent introduction by the Chinese of a yuan based - and gold backed - crude oil futures contract. But before discussing that in some depth, let'sÃÂ ...
Seeking Alpha
December 31, 1999
The US dollar enjoys a special privilege in the world due to its dominance in the global oil trade. The agreement that created this dominance was predicated on the United States being the largest oil importer in the world, which is no longer the case. China is rolling out a new gold-backed yuan oil contractÃÂ ...
The Siasat Daily
December 11, 2017
A series of steps taken by China include announcement of pricing oil in yuan, using a gold-backed futures contract in Shanghai, the establishment of the Asian Infrastructure Investment Bank and the New Development Bank. This would be a game changer. Claudio Grass also said that “If we now take intoÃÂ ...
Mintpress News (blog)
December 8, 2017
It is no secret that Beijing and Moscow are aiming for a gold-backed currency if and when the dollar should collapse. This has pushed unyielding countries to start operating in a non-dollar environment and through alternative financial systems. For China, Iran and Russia, as well as other countries, ...
Seeking Alpha
November 15, 2017
But a centralized yuan-based (hybrid offshore-onshore), gold-backed oil contract is probably the last thing anyone wants. By banning Bitcoin ...
CNBC
November 14, 2017
The plan is to price oil in yuan using a gold-backed futures contract in Shanghai, but the road will be long and arduous. "I don't think you can say with confidence that over the next decade the dollar is finished, but the ongoing geopolitical developments suggest that could change in the future," he said.
Malaysia Chronicle
November 14, 2017
The plan is to price oil in yuan using a gold-backed futures contract in Shanghai, but the road will be long and arduous. “I don't think you can ...
Seeking Alpha
November 13, 2017
One current narrative is the contention that a gold-backed yuan is going to “dethrone the petrodollar” and create a “dollar collapse.” While IÂ ...
Hellenic Shipping News Worldwide
November 12, 2017
Wang noted that some countries, such as Russia, have already agreed to trade oil with China in yuan. He believes that gold-backed futures ...
Quartz
November 9, 2017
Gold-backed ETFs recorded a severe drop in inflows, down 87% from last ... of the yuan and government restrictions on real estate investments.
Yeni Şafak English
November 8, 2017
The direct PVP currency settlement yuan-ruble, free from the dollar, is a ... Other currencies will rise, with the gold-backed Chinese yuan and ...
DAWN.com
November 5, 2017
The plan is to price oil in yuan using a gold-backed futures contract in Shanghai that will be able to compete with more established benchmarks such as West Texas Intermediate or Brent crude, both of which are US dollar-based. Whether China succeeds in weaning oil majors and big-time traders off USÂ ...
Center for Research on Globalization
November 3, 2017
China has made the decision to price oil in their own currency the “Yuan” by a new gold-backed futures contract which will change the ...
Live Trading News
November 1, 2017
China plans to use its Gold reserves to back the RMB Yuan, and many believe that if a Chinese Gold-backed currency is widely adopted, the ...
FXStreet
October 24, 2017
A massive amount of hype is spreading regarding China's alleged ambitions to dethrone the dollar. The story this time involves China's plan is to price oil in yuan using a gold-backed futures contract. Even if that were true, the impact would be zero. Nonetheless, CNBC is now in on the hype. CNBC reportsÃÂ ...
Commodity Trade Mantra
October 23, 2017
Reporting from Denpasar, Indonesia, Damon Evans wrote, “China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.” Not bitcoin backed, not ethereum backed, g-o-l-d backed. How low tech of theÃÂ ...
Seeking Alpha
October 15, 2017
On September 1, 2017, the Nikkei Asian Review published an article titled, "China sees new world order with oil benchmark backed by gold", ...
The Edge Markets MY
September 27, 2017
The high potential of a RIC-based geo-economic continuum, initially anchored in a gold-backed yuan, will shift the epicentre of a future global ...
Business Standard
September 25, 2017
While the yuan is not yet a global trade settlement currency, China will ... system by introducing gold-backed 'petroyuan' oil futures contracts.
Market Realist
September 19, 2017
How China's Gold-Backed Oil Contracts Could Change the Picture ... established the dollar, China is looking to back the “petro-yuan” with gold.
Moneyweb.co.za
September 14, 2017
Are we seeing signs of a return to gold-backed currencies? ... In addition, China has launched yuan-denominated gold contracts in exchanges ...
Center for Research on Globalization
September 14, 2017
Russia and China's Extensive Gold Reserves, China Yuan Oil Market .... even in the Middle East, to prefer gold-backed Yuan for their oil over ...
Seeking Alpha
September 6, 2017
Amid an already very bullish environment for the appreciation of gold, a recent development could cause massive disruption in to today's global oil market: the imminent introduction by the Chinese of a yuan based - and gold backed - crude oil futures contract. But before discussing that in some depth, let'sÃÂ ...
The National
December 31, 1999
Locally Richard Poulden, chairman and chief executive of Dubai-based and London-listed gold trader Wishbone Gold, has eloquently presented the case that massive Chinese gold buying in recent years can only be explained as preparation for a gold-backed yuan. However, for either of these theories toÃÂ ...
RT
December 31, 1999
"In combination with the announcement of pricing oil in yuan, using a gold-backed futures contract in Shanghai, the establishment of the Asian Infrastructure Investment Bank and the New Development Bank, China is setting up an alternative to the post-Bretton Woods establishment. This is certainly a gameÃÂ ...
Center for Research on Globalization
December 31, 1999
It is no secret that Beijing and Moscow are aiming for a gold-backed currency ... Beijing will buy gas and oil from Russia by paying in yuan, with ...
Seeking Alpha
December 31, 1999
The new oil futures contract in the yuan will reduce demand for the USD, dropping its value. China will need to increase its gold reserves to ...
Market Realist
September 19, 2017
How China's Gold-Backed Oil Contracts Could Change the Picture ... established the dollar, China is looking to back the “petro-yuan” with gold.
Center for Research on Globalization
September 8, 2017
As to the yuan becoming gold backed, I doubt it in reality. I highly doubt they will ever “exchange” their current gold horde. It is more likely theyÃÂ ...
Asia Times
September 6, 2017
Whether it's a cashless mega-crypto, a gold-backed super-yuan or a combination of some or all of the above, the dollar is being isolated, whichÃÂ ...
Seeking Alpha
September 6, 2017
China's New Gold-Backed Oil Futures Contract Cuts Out U.S. Dollar ... Chinese of a yuan based - and gold backed - crude oil futures contract.
Live Trading News
September 5, 2017
... China has quietly established RMB Yuan-based currency exchange ... As the new Gold-backed “Petroyuan” will allow Crude Oil producers toÃÂ ...
Eurasia Review
September 4, 2017
The world's top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold,ÃÂ ...
OilPrice.com
September 1, 2017
To make the yuan-denominated contract more attractive, China plans ... be the world's largest exporter or they can create a gold backed Yuan.
BullionVault
March 22, 2017
The New York-listed SPDR Gold Trust (NYSE:GLD) yesterday expanded by 1.4 million shares, some 0.5%, as investor demand for the gold-backed ETF grew for only the 17th day so far in 2017, barely half as often as during the same period of 2016.
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