Wow! market deep correction....best for gold miners...!! Buy when people are fearful and vice versa....!! neuwook collected some 0.070 loh....steady now hehe...!!
Global market panicky on trade war retaliation by China has led to global market selloff in equities and commodities except solid GOLD.... buy GOLD and Gold miners like Bornoil.....safest hedge against inflation, uncertainties and market meltdown...!!
So after months of preparation, finally the yuan denominated oil futures is listed & traded on the Shanghai exchange meaning China will pay in yuan for its crude oil purchases....China is smart as they make this tradeable oil future attractive because these contracts are convertible into GOLD. That means these contracts are backed by GOLD...!!
China is using this yuan denominated crude oil future tradeable contract (Coined as PetroYuan) to make the Yuan more attractive and slowly replacing US Dollar as the world reserve currency. With this stepping stone, China will dominate the GOLD market in stages. neuwook believes GOLD will experience a bull market in 2018 moving forward...this is evident with the trending up of gold price since the start of the year from US$1300 to current level.
For Bornoil shareholders, keep watching their upcoming monthly mining reports and mining developments. Some good read for those bullish on GOLD.....
Holy Grail: crude oil futures contracts priced in yuan fully convertible into gold
That means China’s vast array of trade partners will be able to convert yuan into gold without having to keep funds in Chinese assets or turn them into US dollars. Exporters facing the wrath of Washington, such as Russia, Iran or Venezuela, may then avoid US sanctions by trading oil in yuan convertible to gold. Iran and Venezuela, for instance, would have no problems redirecting tankers to China in order to sell directly in the Chinese market – if that’s what it takes.
China, the world’s biggest oil buyer, is opening a domestic market to trade futures contracts. It’s been planning one for years, only to encounter delays. The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed to invest -- a first for China’s commodities markets -- because the exchange is registered in Shanghai’s free trade zone. There are implications for the U.S. dollar’s well-established role as the global currency of the oil market.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
idoformoney
25 posts
Posted by idoformoney > 2018-04-04 16:03 | Report Abuse
0.07@0.05 is coming