Are the Chinese selling US dollar-denominated assets to buy gold? It sure looks that way. Chinese investors sold $21.2 billion in US assets in August alone – primarily US Treasury bonds. Meanwhile, the Chinese government has been buying gold at a steady pace. Writing at FXEmpire, analyst Vladimir Zernov said there are two dynamics driving the Chinese to sell US assets. The first is an effort to boost the yuan. China’s currency has struggled against the dollar of late due to softness in the Chinese economy and recently hit multi-year lows. Selling dollar-denominated assets for yuan boosts the local currency at the ... (full story)