How Speculators in China Could Be Triggering Volatility in Gold Prices
Recent weeks have seen gold prices swing wildly, and many market participants and analysts have been trying to figure out the forces behind this high volatility that isn’t typical of how the gold market has previously behaved. Major concerns arose after gold climbed to a record price of $5,594 an ounce, only to plummet by almost 10% the following day on Jan. 30. From that day, bullion has experienced very high volatility and it has been a struggle for the metal to stay above the $5,000 per ounce price. Scott Bessent, the United States Treasury Secretary, pointed out that these…