The Reserve Bank of India's purchase of 200 metric tons of gold from the International Monetary Fund, announced on Tuesday, is a game changer for gold and investors.

The notes are denominated in Special Drawing Rights, a quasicurrency issued by the fund and promoted by China as a potential replacement for the dollar as the world's reserve currency.

Xu, for his part, suggests moving toward a system of multiple reserve currencies overseen in part by the likes of the International Monetary Fund.