Is US dollar dominance coming to an end⁉️ Why did gold experience a massive sell-off? Who is the behind-the-scenes big player? Just now, I opened the USD exchange rate. It was highly volatile. This morning, I saw the USD exchange rate was close to 1:7, but by tonight, it had dropped to 6.19. I was very surprised why the USDT exchange rate would fluctuate so dramatically. Suddenly, a thought flashed through my mind, which made me think of the sharp plunge in gold prices. Also, the rapid appreciation of the RMB. In these two charts, we can see that this time, the rapid depreciation of the RMB was accompanied by a swift sell-off in gold. Many people still don’t understand why gold sell-offs are related to the depreciation of the RMB. Here, we will explain this in detail. First, it is artificially controlled. The appreciation and depreciation of offshore RMB are manipulated. This leads us to recall that earlier this year, the central bank took a series of actions to promote the rapid appreciation of the RMB, which the US strongly disliked. In other words, the US does not want to see the RMB appreciate rapidly. The background here is that the Chinese government holds a large amount of gold. Therefore, we can see that this time, the rapid depreciation of the RMB was very likely influenced by external forces of suppression and intervention. Since the beginning of this year, the central bank has set a tone for the RMB to appreciate steadily. However, starting from February 1, after the RMB was rapidly suppressed and depreciated, gold experienced a massive sell-off. Everyone can carefully consider what this situation looks like. My personal inference is that the RMB was massively sold off in the foreign exchange market, leading to its depreciation. After the Chinese central bank sold gold to obtain US dollars, it bought a large amount of RMB in the foreign exchange market, causing this huge fluctuation in the USD and gold prices.