Chinese Banks Bar Clients From Buying Precious Metals

Chinese Banks Bar Clients From Buying Precious Metals
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In an attempt to avoid another retail-driven momentum meltup similar to what happened with Chinese stocks earlier this month when government-media first encouraged Chinese investors to buy stocks only to backtrack days later when local markets soared sparking fears of another stock bubble on the mainland, Reuters reported that Chinese regulators and major banks have been rushing to curb precious metal trading by domestic investors to temper speculation that could send prices explosively higher , something we hinted at just last week. All gold needs to hit 2,500 is for China’s momentum maniacs or the Robinhooders to start chasing […]

zerohedge.com

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