It's too early to tell but it will be interesting to see how much liquidity it has as time goes on. Looking at the weekly chart gold is not in a clear trend at the moment and I don't see the petro-yuan changing that right away.
You are viewing a single comment's thread from:
I see that it's down again. It was just coincidence that gold had jumped the same day as the petro-yuan went live.
Gold needs to break out above the 1400 level convincingly before I could start getting excited for a bullish scenario. It's just been a dog for so long. So many false breakouts etc.