Following the announcement by the International Monetary Fund (IMF) in November of 2015 stating that China’s yuan was to join the elite currency basket the world’s financial landscape had begun to change. The Chinese currency has now taken its place alongside the U.S. dollar, Japanese yen, the pound and the Euro. This was in recognition of the larger role that China plays in world markets, and underline its position as the second largest world economy.
Add to the above an expected rate hike in the US , a weakening dollar, a slowing stock market, upcoming Brexit vote, negative interest rates and lower oil prices and one can clearly see a multitude of reasons to buy physical gold.
Precious metals expert William Gray reviews each of these compelling points and reasons for gold to rally in his latest Forbes article.