Craig Hemke at Sprott Money: Potential impacts of the yuan-gold peg
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing tonight at Sprott Money, says the recent tight correlation between Chinese yuan and gold prices indicates massive intervention in the gold market by China to keep commodity prices down as China devalues the yuan in its trade war with the United States.
The Chinese intervention, Hemke writes, implies not only a continued decline in the gold price but also a thrashing in the stock market.
Hemke's analysis is headlined "Potential Impacts of the Yuan-Gold Peg" and it's posted at Sprott Money here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.