Chinese Speculators Fuel Gold Rally Amid Accelerating Capital Flight
Chinese speculators are driving a record-breaking gold rally, significantly influencing global gold prices. According to John Reade from the World Gold Council, these speculators have exerted unprecedented control over the market, a shift from the traditional dominance of ETFs and other financial instruments. This surge in activity is evidenced by trading volumes on the Shanghai Futures Exchange, where gold trading spiked to 1.3 million lots on a peak day last week, marking a 400% increase from the average in 2023. This rally coincides with an acceleration in capital flight from China.
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BullionStar
Chinese Have "Grabbed Gold By The Throat" As Capital Flight Accelerates: https://t.co/OfeppptWVv @zerohedge $GLD $XAUUSD https://t.co/3D4EhQYVvU
The Kobeissi Letter What is happening in China? Gold trading volume in China is now 400% LARGER than the average seen in 2023. The trading activity in gold on the Shanghai Futures Exchange spiked to 1.3 MILLION lots on the peak day of trading last week. This came at the same time that gold prices… https://t.co/IFoFxFOlPw
zerohedge Chinese Have "Grabbed Gold By The Throat" As Capital Flight Accelerates https://t.co/yJCbM7d423
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