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Anonymous (ID: uwxzbHiD) Archived
Chinese Bank has banned paper (...) No.538106395
Chinese Bank has banned paper gold trading. (ID: uwxzbHiD)  No.538106395 Archived
Why?
>Official explanation: Gold prices have been fluctuating wildly recently. To minimise investors’ losses, the bank has decided to ban paper gold trading; you can only sell your paper gold holdings.
>The real reason: By banning paper gold trading, the bank intends to drive up the price of physical gold—to its true value.
Who knows? The true price of gold might well be US$40,000/oz
Over the past 10 years, the Chinese government has purchased and stockpiled large quantities of physical gold.
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