Chinese investors pile into gold funds at record pace

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The story "Chinese investors pile into gold funds at record pace" was covered 19 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 19h ago

Chinese investors pile into gold funds at record pace - Financial Times

Quick Summary:

China is the world’s biggest buyer of gold bars and coins, and second-biggest buyer of gold jewellery after India, but the growth of gold-backed ETFs in the country has been limited until recently.

A huge stockpile of gold built up in New York during the first quarter of this year, leading to a shortage in London, as traders rushed to bring in supplies ahead of the potential imposition of tariffs.

Gold has been one of the best-performing assets since the election of the US president late last year, with many other popular “Trump trades” such as the dollar, bitcoin or stocks making big early gains before reversing course.