Hong Kong Financial Secretary: Safe-haven Assets Such as Gold Experience "Fearless Rally, Fearful Retreat," Global Market Volatility May Intensify
BlockBeats News, February 1st. In a recent blog post, Financial Secretary Paul Chan Mo-po published an essay titled "Stay Prudently Optimistic and Forge Ahead." In it, he pointed out that the global market turbulence has triggered intense international capital movements, with even so-called safe-haven assets experiencing price corrections after repeatedly hitting new highs. Taking the example of the price of gold, after experiencing a surge in the past four years, it soared by nearly 30% in January of this year, challenging the historical high of $5600. However, in the past few days, there has been a significant pullback, with prices dropping by over 12% from their peak.
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