Gold Trading Soars in China as Bitcoin Gains Traction in the US

China has witnessed a dramatic surge in gold trading activity, with volumes reaching an all-time high of 20 million ounces at the beginning of 2024. This significant increase exceeds historical averages and is attributed to robust investment flows into gold exchange-traded funds (ETFs) throughout the year. Meanwhile, Bitcoin has emerged as a potential safe haven in the US amidst rising geopolitical tensions and regulatory uncertainty surrounding cryptocurrencies.