Price of Gold went Down - for China

[gunDriller]

a Year ago, the exchange rate was 9:1 and gold was $1200.

so, that would be 10800 Yuan per ounce.

now the rate is 6.5:1. gold is $1563.

10159.5 Yuan per ounce.

Gold is down about 6% in Yuan price, from a year ago.


No Wonder the price is going up, in US $ !

For the price to return to 10800 Yuan per ounce - that's a gold price of $1661.54


The Chinese have about $2.9 Trillion left to spend.

http://www.norcalblogs.com/bored/rocket.jpg

[Trinity]

Negative. A year ago the exchange rate was 6.83 to 1. Today it is 6.49 to 1. And at it's lowest (1994 -2005) the Yuan was 8.3 to 1 verses the dollar, never was 9 to 1.