Increased gold market volatility causes Chinese banks to suspend new gold and silver account openings

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Published : November 30th, 2020
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Reuters/Staff/11-27-2020

“The banks warned investors to pay attention to market and volatility risks and to manage trading and conduct investment transactions prudently and rationally, according to statements released on Friday.”

USAGOLD note: It does not go unnoticed that China is having trouble with zombie companies including bond defaults simultaneous to their putting clamps on the gold and silver markets. Typically, companies that trade in gold including Chinese banks hedge their purchases and sales and do not take risks. Why would they care if the market is volatile due to the virus and U.S. elections? Markets, by nature, are volatile. That’s what makes them markets.

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