Hong Kong Financial Secretary: Safe-haven assets like gold experience a "bold advance and rapid retreat" correction

Odaily Planet Daily reports that Hong Kong Financial Secretary Paul Chan issued a secretary’s essay titled “Maintain a Positive and Prudent Approach,” which points out: The turbulence in global markets has triggered intense fluctuations in international funds. Even assets considered safe havens have experienced corrections after reaching new highs. Taking gold prices as an example, following the gains of the past four years, it surged nearly 30% again in January this year, challenging the historical high of $5600. However, in recent days, there has been a significant pullback, with prices dropping over 12% from the high. The Hong Kong financial system remains stable and operates smoothly, with total bank deposits exceeding HKD 19 trillion. As the global political and economic situation changes rapidly, the risks and volatility in the coming year will not be few.