Yuan Spot Price Per USD Hits Record High (Released Wed 11/14/12 10:47 AM)
The spot price of the yuan against the dollar rose to 6.2262 yesterday, marking a record high since China’s foreign exchange reforms seven years ago. “Enterprises and banks have been selling off foreign currencies in anticipation of the yuan’s appreciation, pushing up the price of the currency,” said Ding Zhijie, an economics professor at the University of International Business and Economics.
Gold Demand from China to Continue if not Accelerate
In related news, Gao Wei, an official from the Department of International Economic Affairs of Ministry of Foreign Affairs, wrote in a China Securities Journal that, “China needs to add to its gold reserves to ensure national economic and financial safety, promote yuan globalization and as a hedge against foreign reserve risks.”He went on to say that China’s gold reserves are “too small.”
China is very secretive about how much gold they have as well as how much they are purchasing. We only get an official number from how much gold Hong Kong is sending to the mainland, otherwise other purchases are not disclosed. One thing we do know is that China is the #1 gold producer in the world and #3 silver producer, yet they are net importers of both metals.
Our Top Two Favorite Gold Juniors
For those interested in making a real stake in today’s gold market, research Brazil Resources (BRI.v & BRIZF) today! BRI is up 9% for the week, however we believe they are barely scratching the surface for their potential. We would also suggest you take a serious look at Canarc Resource Corp (CCM.to & CRCUF) who is a junior gold company led by Bradford Cooke, the founder and current CEO of Endeavour Silver (EXK).
FutureMoneyTrends.com is traveling to San Francisco to speak with well over 200 CEO’s, geologists, and resource company representatives. Look for some great interviews and company profiles to follow.
A major must watch FutureMoneyTrends.com video is about to be released next week, the last fictional video our video writer created received over 2.2 million views. We believe our new video will see double! Next week’s fictional video will be sent to your inbox just before the Holidays so that you can share with your family and friends and hopefully inspire them to get real about preparing for the future!
We look forward to releasing this video this coming Wednesday.
How to Participate in America’s Oil Boom (Released:Thu 11/15/12 11:28 AM)
According to a recent report by the International Energy Agency, the United States will overtake Saudi Arabia as the world’s leading oil producer around 2017 and will even become a net oil exporter by 2030.
This is amazing what is happening in the U.S., after peaking in production in 1970, the U.S. has seen a huge comeback over the past few years. In fact, we are nearing our 1970 record year for daily oil production.
You have to give a lot of credit to the oil shale boom which is estimated to be at an astonishing 1.5 trillion barrels of oil – or more than 5X the stated reserves of Saudi Arabia.
This weekend FutureMoneyTrends.com will be profiling a new oil company that has producing wells in North America and an oil field development project in one of the friendliest oil states in the U.S.
With the markets selling off hard since the election, it might be a good idea to start looking for some nice bottom bouncing trades. Especially this junior that we want to introduce to you, we thought we would be profiling it at a much higher price, but with this broad market sell off it looks like we are going to be profiling it at low since it started actively trading.
Look for our special report this Sunday night! If you’re not subscribed to our newsletter please do so at the top of the page!