So this happened this morning,
Since the end of the wintersday festival, gem exchange rates have been fluctuating between 32 and 38 gold per 100 gems. There might have been some slight deviations but nothing major. This morning exchange rates skyrocketed to almost double the former value peaking at ~61gold for 100 gems. After this massive increase in the gold:gems ratio, the gems:gold followed suit. The image below shows that the gems:gold ratio grew to a rate higher than the gold:gems ratio from before increase.
Seems to me like that would indicate someone bought a massive amount of gems with gold, expecting the steap increase in exchange rate, to then revert his purchase back to gold after the gems:gold ratio had risen enough. If this were the case, someone could essentially print more gold as long as they have enough starting capital. I would think that would be pretty bad for the game's economy
edit: im new to this forum idk how to properly embed images