A major Chinese money manager has suspended trading in a gold equity ETF tracking gold-related stocks due to unprecedented demand, marking the second such suspension in less than a week. The surge in demand comes as gold and silver prices reach record highs, with spot gold surpassing $2,350 and silver futures hitting a 7% limit up. The ChinaAMC CSI Shanghai-Shenzhen-Hong Kong Gold Industry Commodity ETF halted trading after its price significantly exceeded the fund's net asset value, following a similar trend in the broader market where gold futures jumped over 2% to new highs and silver futures surged over 5%. This frenzy in gold and silver buying in China is attributed to investors seeking assets not linked to the local economy, which has faced challenges. The rush has also led to gold prices hitting fresh record highs in India, with the yellow metal topping Rs 71,000 per 10 grams for the first time. The fund now trades at a 30% PREMIUM to net asset value (NAV), amid speculation of the PBOC buying back bonds for the first time in two decades.