China’s Speculative Gold Rush Tests Risk Appetite in Beijing
While broad market participation is welcomed by officials, any threat to social cohesion is sure to attract negative attention.
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Welcome to our guide to the commodities driving the global economy. Today, senior reporter Alfred Cang explores the limits of China’s tolerance for volatility in precious metals.
The global gold market has been shaken by an abrupt pullback from record highs, but in China — where speculative investment drove the market to a tipping point — this is a story that many have seen before.