ChinaHere's another thing that should be supportive of gold. China has a significant central bank holding in gold, and a massive holding of US dollars. They get so much US currency from all of the world's consumers buying stuff made in China that they don't know what to do with all that cash. They buy US debt and gold, plus spend it all around the world on their own overseas development (foreign policy). It would very much suit China to devalue its currency - their gold gets more valuable, their US debt gets more valuable, and their stuff is cheaper for everyone else to buy. Today the US announced that its inflation is lower than expected (if you strip out food and energy, as they do, everything else they buy is made in China, so no wonder). So look for China to keep its currency cheap. Rickards predicts a shock and awe devaluation soon. I am not so aggressive,, but the result will be the same. China will continue to keep its currency cheap, and Trump will continue to rail at NAFTA, when the real villain is across the Pacific and untouchable. Can you imagine what would happen if China stopped buying US debt? Trump can tweet and moan all he likes about it, but there is nothiing he can do. China will continue to lower its currency, and buy gold.