China's yuan has dropped for 5 months straight as investors flock to the decades-high dollar

The Chinese currency has fallen against the dollar for five months in a row. That is the currency's longest losing streak since October of last year.

The dollar is currently at a 20-year high. The dollar has increased in value this year due to high inflation and falling gold purchases.

Chinese consumers, who make up about one-third of retail gold purchases, have less purchasing power due to a weaker renminbi.

The Journal quoted Currie as saying that gold followed the fall of the Chinese currency.

Compared to China's currency, bullion has dropped for four months in a row.

Because of the Fed's policy, gold isn't seen as a safe-haven investment in the foreseeable future.

As US bond yields rise with interest rates, the dollar rallies, which makes gold more expensive for overseas customers, as well as for emerging market central banks.

The dollar is higher this year due to the fact that Chinese investors have been accumulating cash instead of pumping it into the economy.

The money is going to bonds and corporate debt instead of hitting the real economy.