Anonymous ID: 000000 July 29, 2020, 5:44 p.m. No.10119608   🗄️.is 🔗kun

>>10119589

 

Thanks for posting this. Every once and a while this needs to be spotlighted so that new eyes see why it is we fucking hate her.

 

>File (hide): fd0b9374ca6e80e⋯.png (485.69 KB, 899x611, 899:611, ClipboardImage.png) (h) (u)

 

>File (hide): b4846e086763300⋯.png (105.07 KB, 906x450, 151:75, ClipboardImage.png) (h) (u)

 

>Chinese Banks Bar Clients From Buying Precious Metals

 

>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.

 

>The scramble to limit risks comes as gold prices hit record highs this week, spurred by investors hunting for safe haven assets in markets rattled by worries of rising coronavirus cases, lofty equity valuations, and a plunge in the U.S. dollar which prompted Goldman to contemplate if the days of the world's reserve currency are numbered.

 

>Industrial and Commercial Bank of China (ICBC), the country’s largest bank said on Wednesday it would bar its clients from opening new trading positions for platinum, palladium and index products linked to precious metal from Friday. That directive, according to the lender’s customer service department, was in response to “violent price volatility” and "the need to control risks." The reality? It is neither in China's, nor any other government's interest, to see gold prices soaring as they likely would if tens of millions of Chinese speculators rushed to bid up the precious metal.

 

>https://www.zerohedge.com/markets/chinese-banks-bar-clients-buying-precious-metals