Gold Futures - Feb 22 (ZGG2)

1,815.05
-1.45(-0.08%)
  • Prev. Close:
    1,816.5
  • Bid/Ask:
    1,815.00/1,815.10
  • Day's Range:
    1,808.55 - 1,822.25
  • Type:Commodity
  • Group:Metals
  • Unit:1 Troy Ounce

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  • Here we guys enjoy: Here’s how it will work... The Shanghai International Energy Exchange is introducing a crude oil futures contract denominated in Chinese yuan. It will allow oil producers to sell their oil for yuan. China knows most oil producers don’t want a large reserve of yuan. So producers will be able to efficiently convert it into physical gold through gold exchanges in Shanghai and Hong Kong. As of March 26, countries around the world will have a genuine, viable way to opt out of the petrodollar system.
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    • I think by July there will be another oppurtunity to by at around 1320...
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    • Thank goldi to provide necessary guidance to such a trder to helpful
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    •  what if it is paper gold only??? noy physical.....
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