China is launching a facility that allows the yuan’s value to be pegged against gold

China Goes After Dollar With Gold Fix

(In other words the Chinese will depeg from the USD and peg to an ounce of gold?)

[link to www.forbes.com]

For the gold bugs out there, a quickie: China is launching a facility that allows the yuan’s value to be fixed against gold.

A gold fixing facility exists in London, but China wants its own – reflecting its ambitions as a global financial player. The establishment of a China-based gold fix for the yuan also marginally undermines the dollar as the global benchmark currency, says Jan Dehn, an economist with the Ashmore Group in London, a $70 billion asset management firm.

“The establishment of a gold fix will probably also aid China’s ambition to achieve Special Drawing Rights inclusion this year,” Dehn says about China’s ambition to become part of the International Monetary Fund’s reserve basket along with the yen, dollar and euro


===

When the IMF announces China gold reserves prior to Jade Helm, gold and the Yuan will depeg go parabolic in relation to the Federal Reserve note USD?

The Yuan is equal to about 20 cents USD. After the event I suspect parity or better.