-
Gold Glitters in China’s Financial Storm
The Chinese yuan has lost nearly 6% of its value against the U.S. dollar this year, while Shanghai-listed stocks are off about 8% from their 2023 high, set back in May. There’s an ongoing property crisis, with shares of Evergrande Group—China’s second-largest property developer and the world’s most indebted—halting trading last Thursday after its founder and chairman was reportedly taken into police custody for unknown reasons. Against this backdrop, gold has emerged as a preferred investment alternative, acting as a hedge against financial volatility. Gold prices in China have soared as a result, hitting a ... (full story)