China Trader Who Made $3 Billion on Gold Bets Big Against Silver

A billionaire Chinese trader who made his name riding gold’s record-breaking rally has turned his sights to silver’s breakneck surge, with a bet on the metal’s collapse now worth almost $300 million.

Bian Ximing, who avoids the limelight and spends much of his time in Gibraltar, has made nearly $3 billion from bullish bets on Shanghai Futures Exchange gold contracts since early 2022. He has now built the bourse’s largest net short position in silver, according to Bloomberg analysis of exchange data and people with knowledge of his investments. They asked not to be named as the information is not public.