Chinese banks shut down retail trading services for precious metals. (cryptobriefing.com)
from Anonymous_Leaker@lemmy.world to world@lemmy.world on 30 Jun 17:25
https://lemmy.world/post/48858096

China is shutting down their paper gold/silver market.

Explanation-There is more paper gold/silver than actual gold and silver in circulation.

China realizes this and is buying physical gold rather than the paper.

“Paper gold and silver are financial derivatives that track the price of precious metals without requiring you to hold the physical asset. They offer high liquidity and easy trading through standard brokerage accounts, but lack the true tangible ownership of actual bullion.”

#world