Hong Kong Financial Secretary: Safe-haven assets such as gold have experienced a sharp pullback after a period of rapid growth.
Hong Kong Financial Secretary Paul Chan highlighted in his essay that safe-haven assets, including gold, have seen significant corrections after a period of rapid growth. Gold prices surged nearly 30% in January, reaching a peak of US$5,600, but have since fallen over 12%. Despite global market volatility, Hong Kong's financial system remains stable, with total bank deposits exceeding HK$19 trillion. Chan warns of considerable risks and volatility in the coming year due to the rapidly changing global political and economic landscape.
CoinLive·