-
Bessent sees ‘unruly’ Chinese trading behind gold price swings
Treasury Secretary Scott Bessent cited Chinese traders as a reason behind last week’s wild swings in the gold market. “The gold move thing — things have gotten a little unruly in China,” Bessent said on Fox News. “They’re having to tighten margin requirements. So gold looks to me kind of like a classical, speculative blowoff.” Bessent was responding to a question about a record-breaking rally in precious metals — fueled by speculative buying, geopolitical turmoil and concern about the Federal Reserve’s independence — that abruptly reversed last week. The turmoil helped lift the dollar to its first ... (full story)
- Comments / Top
- Subscribe
Czyker26
Feb 8, 2026 11:02pm
Permalink
dhikrullahay
Feb 8, 2026 10:24pm
Permalink
Trader#1322
Feb 8, 2026 6:58pm
Permalink
-
Related Stories
From msn.com | Feb 8, 2026
Both gold and silver prices saw a sharp rebound on Monday, February 9, after witnessing an exceptionally volatile week. Spot gold prices advanced nearly 1.18% to $5,040 an ounce, while spot silver prices surged as much as 3.39% to $79.89 during the Asian trading hours on Monday. However, gold prices are still 11.27% below the record high of $5,608.35, and ...
*CHINA URGES BANKS TO CURB US TREASURIES EXPOSURE ON MARKET RISK ...
Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with U.S. economic data that could offer more clues on the U.S. Federal Reserve's monetary policy. Spot gold rose 2.1% to $5,063.88 per ounce by 11:12 a.m. ET (1612 GMT), extending a 4% rally from Friday. U.S. gold futures for April delivery also gained 2.2% to ...
