Chinese Dip-Buying Bolsters Gold as Prices Find Floor at $4,000 - Bloomberg.com
Chinese Dip-Buying Bolsters Gold as Prices Find Floor at $4,000 - Bloomberg.com
Source: Bloomberg.com
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DW NOTE
Chinese retail buyers reportedly stepped in as gold found support at $4,000 — which means the January peak of $5,318 is now 24% overhead and the correction has wiped a quarter-trillion dollars from global gold holdings in seven months. A floor is not a reversal.