Stuart Englert: Nothing has diminished the case for holding monetary metals
Submitted by admin on Sun, 2026-02-01 15:31 Section: Daily DispatchesBy Stuart Englert
Stuart Englert's Substack
Sunday, February 1, 2026
Major price drops in gold and silver, like the massive smash down last Friday, reveal a lot about buyers and holders of the monetary metals.
Newcomers and momentum traders panicked on Friday, fearing the sky had fallen on their jackpot hopes and get-rich dreams. Many were chasing profits as gold and silver prices soared to repeated all-time highs in 2025, followed by the record run-up that ended on the final trading day of January.
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China is on a 'strong currency' mission to make the yuan a global reserve, Xi says
Submitted by admin on Sun, 2026-02-01 12:09 Section: Daily DispatchesBy He Huifeng
South China Morning News, Hong Kong
Saturday, January 31, 2026
China needs to build a "strong currency" that can become widely used in international trade, investment, and foreign exchange markets, and reach the status of a global reserve.
The mission for the yuan was from excerpts of a speech by President Xi Jinping and published online on Saturday by Qiushi, the ruling Communist Party's leading theoretical journal.
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How Chinese speculators set the stage for gold and silver crash
Submitted by admin on Sun, 2026-02-01 11:15 Section: Daily DispatchesBy Jack Ryan
Bloomberg News
via Yahoo News, Sunnyvale, California
Sunday, February 1, 2026
In the history of the silver market, prices had traded above $40 an ounce for only a handful of brief periods before last year. On Friday exhausted traders watched in shock as the precious metal plunged by that much in less than 20 hours.
China's gold fever sparks US$1 billion scandal as trading platform collapses
Submitted by admin on Sun, 2026-02-01 11:06 Section: Daily DispatchesFrom Aseanplus News
via The Star, Petaling Jaya, Malaysia
Friday, January 30, 2026
The sudden demise of a major gold trading platform has rocked the southern Chinese city of Shenzhen, leaving tens of thousands of retail investors with combined losses totaling more than 10 billion yuan (US$1.4 billion), according to investors and domestic media reports.
Chinese retail investors have rushed to capitalise on the unprecedented rally in global gold prices in recent months, leading many to put their funds into the online metals trading platform JWR.
Chinese gold trading programs suspended amid concern over pre-priced metal
Submitted by admin on Sun, 2026-02-01 10:49 Section: Daily DispatchesFrom Global Times, Beijing
Saturday, January 31, 2026
Several gold trading mini programs on WeChat have recently been suspended following a redemption crisis involving Shenzhen-based platform Jieworui Jewelry, which, local authorities updated Saturday, has initiated redemption under supervision.
The latest developments draw market attention to the risks associated with so-called "pre-priced gold" trading models.
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Alasdair Macleod: Friday's metals smash aimed to rescue Comex swaps dealers
Submitted by admin on Sun, 2026-02-01 10:03 Section: Daily Dispatches10a ET Sunday, February 1, 2026
Dear Friend of GATA and Gold (and Silver):
In his weekend letter, market analyst and economist Alasdair Macleod writes that "Friday's action in gold, silver, and platinum was designed to flush out weak holders of paper contracts. This was for the benefit of establishment players in Comex's swaps category, who, being desperately short, are losing huge sums on mark-to-market valuations."
He calls it "a one-off scare, because nothing else has changed."
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