What are the specific effects of the exchange rate of RMB against the US dollar on spot silver? I hope there are examples, thank you.
The exchange rate of RMB against the US dollar has no effect on silver, because this is a bilateral relationship. First, the RMB actively changes the exchange rate or the US dollar changes due to the market. If you want to see it, you should look at the dollar index or the yield of US Treasury bonds. The US dollar index rose, precious metal prices fell, the yield of US Treasury bonds rose, and precious metals fell. Precious metals are in the opposite direction to the American economy.