Summary

China is continuing its long-running assault on the US dollar as the world’s global reserve currency.

The PetroDollar is backed by US Treasuries, which helps fuel US government deficit spending. Take that support away and the US dollar is in serious trouble. It looks like that.

Gold closing this coming week above $1337 is going to activate the price momentum into a bullish camp that is indicating targets at $1352 and $1367.

China is continuing its long-running assault on the US dollar as the world’s global reserve currency. The focus recently has been the world’s oil markets. China is the largest crude oil consumer, which gives it great influence over the oil markets. That influence was highlighted on March 26, 2018, when China launched trading of the Petro-Yuan to challenge the US Dollar and the PetroDollar. The South China Morning Post

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