Bessent sees ‘unruly’ Chinese trading behind gold price swings

Treasury Secretary Scott Bessent cited Chinese traders as a reason behind last week’s wild swings in the gold market. 

“The gold move thing — things have gotten a little unruly in China,” Bessent said on Fox News’ Sunday Morning Futures. “They’re having to tighten margin requirements. So gold looks to me kind of like a classical, speculative blowoff.”

Bessent was responding to a question about a record-breaking rally in precious metals — fueled by speculative buying, geopolitical...