Vladimír Urbánek (Kurzy.cz)
Markets  |  March 19, 2013 14:39:41

Precious metals and world currencies - how they go together?


Coherence relations world currencies and precious metals prices is essential. Especially in this context, we are talking about the relative value of the U.S. dollar against other major world currencies, precious metals because they are being nominated in USD. The basic relationship is clear - if the value of the USD against other major currencies falls, the price of precious metals. Applicable here is a negative correlation, whose degree is of course influenced by other external factors and conditions, such as current geopolitical situation.The category "other important world currency" in terms of importance for the precious metals would rank the euro, the Chinese women's currency renminbi rather famous unit under Chinese yuan, Japanese yen, Australian dollar and South African rand. Position the British pound in terms of setting prices of precious metals taken a back seat, does not have a major impact, with regard to the comparative size of the economies of most countries in which the above-mentioned use as a national currency, while there are not significant sources of precious metals. Size of the market in China, the United States, European Union and Japan are significantly different from the UK. Australian Dollar (AUD) holds importance due to its geographical location - many commodities, which of course include precious metals, is extracted in Australia. For the same reason, it is essential and the South African rand (ZAR).South Africa has on its territory, the world's largest deposits of platinum and other significant deposits of precious metals.

Of the named currency has a very specific role the Chinese Yuan. It is still largely centrally maintained, which means that they are not applied in the case of free-market principles. The Chinese government artificially undervalues ??him to support the export of Chinese products to other countries. Particularly the United States and the European Union, because many years have put pressure on the Chinese government to release the RMB exchange rate, there is a so-called currency war.They gradually successful in this regard. The process of appreciation, therefore, of the exchange rate against foreign currencies, has already begun, and I think is only a matter of time before the next release of this currency. It will greatly depend on Chinese internal demand, thus the situation if and when China reaches a key condition of independence on exports. In general, because of the control the renminbi is not essential and its fluctuations until the full market release do not change in the value of the yuan therefore a significant impact on trading in precious metals. The situation in China, we still very interested and constantly e her watch. The current rate is about 6.2 yuan per U.S. $ 1. Our company is in China operates a refinery in gold and silver. The refinery is a member of the Shanghai Gold Exchange (Shanghai Gold Exchange).

I have already mentioned that from the perspective of the development of prices of precious metals and significant AUD and ZAR, due to geographic location. The question, as in other countries, where larger quantities are mined precious metals, is therefore obvious. The process of pricing of precious metals exchange other African states are minimal. Although Ghana or Tanzania to be important sources of precious metals, their currencies are unstable and Global Perspective insignificant.At least for now.

Tomas Plachy, CEO, SAFINA, as

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