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 weekly gain since ... (full story)