Gold's record-setting rally may have its roots in Chinese frenzy [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Gold's record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China After weeks of debate about whether a mystery buyer was stoking the rally, several prominent figures in the global gold market are coming to the conclusion that the major new driving force is a legion of fleet-footed retail investors on the Shanghai Futures Exchange (SHFE). Article content Article content In a matter of weeks, the SHFE has gone from a sedate futures venue to a nexus of the global gold market. While activity in rival centres such as London and New York has also risen, the fact that SHFE volumes have spiked from a low base offers a compelling sign that a newly arrived cohort of Chinese investors has helped drive prices sharply higher. Article content Gold has soared this year, topping US$2,000 an ounce from early March in the face of major pressures tha
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