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 published a personal essay titled "Maintaining a Positive and Prudent Approach," in which he pointed out that global market volatility has triggered sharp shifts in international capital, and even assets considered safe-haven assets have experienced corrections after repeatedly hitting new highs. Taking gold prices as an example, after continuing its four-year upward trend, gold surged nearly 30% in January this year, challenging a record high of US$5,600, but has seen a significant pullback in the past few days, falling more than 12% from its peak. Hong Kong's financial system remains sound and operates smoothly, with total bank deposits exceeding HK$19 trillion. The global political and economic situation is changing rapidly, and the coming year will undoubtedly bring considerable risks and volatility.