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Major Chinese Banks Bar Customers From Buying Gold, Precious Metals

Major Chinese banks have taken measures to prevent customers from buying gold, platinum, palladium, and other precious metal-related products through them. The Shanghai Gold Exchange also says it may take necessary measures to curb gold trading to “protect investors.” Chinese Banks and Regulators to ‘Cool Gold Rush’ Chinese regulators and major banks are taking measures to curb the trading of gold and other precious metals by investors in order “to cool [the] gold rush,” Reuters reported Wednesday. Gold prices hit record highs this week as investors look for safe-haven assets amid worries of rising coronavirus cases, the sinking U.S. dollar,…

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