By Jeff Clark
I’m going out on a limb: I think the next bull phase in the gold market gets underway before October.
But not due to runaway demand…
At an International Monetary Fund (IMF) forum last month, China’s central bank governor, Zhou Xiaochuan, made it clear he believes the renminbi is “ready for reserve status.” It would be a huge step for the Chinese currency, starting with the fact that it would be added to the basket of currencies IMF member countries can include in their official reserves. Billions would be invested in it.
What was the IMF’s reaction?