Chinese Speculators Set the Stage for Gold and Silver Crash

Gold’s rally has been building for a number of years, as central banks expanded their holdings as an alternative to the dollar, and accelerated last year as Western investors piled into the so-called debasement trade.“Parabolic,” “frenzied” and “untradeable” were all descriptions of the market on Friday, wrote Nicky Shiels, head of metals strategy at MKS PAMP SA. January 2026, she said, would go down as “the most volatile month in precious metals history.”Metals traders in Europe and the US have been workin ...