Stepping away from Gold, and going back to the observation you have on other metals. Metals prices in CNY have firmed since early Jan, despite the economic activity slowdown news flow from China and SEA. Do you think there is an element of raw material price 'inflation' - meaning domestic merchants hoarding metals supplies in anticipation of future weakness in the CNY? Partly telegraphing that the CNY may be weaker than the print on the screen
I’ve seen a few macro people I think are good making the case that it is Chinese consumers buying gold because of the deflation in the property market. And that Chinese stocks are worse. So the appropriate chart would be gold/chinese property prices.
Stepping away from Gold, and going back to the observation you have on other metals. Metals prices in CNY have firmed since early Jan, despite the economic activity slowdown news flow from China and SEA. Do you think there is an element of raw material price 'inflation' - meaning domestic merchants hoarding metals supplies in anticipation of future weakness in the CNY? Partly telegraphing that the CNY may be weaker than the print on the screen
Chinese bond yields are headed structurally lower due to a deflating property market.
I really don't see any way they avoid hitting 1%
I’ve seen a few macro people I think are good making the case that it is Chinese consumers buying gold because of the deflation in the property market. And that Chinese stocks are worse. So the appropriate chart would be gold/chinese property prices.