Hong Kong gold market losing shine amid political unrest

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Long-running and sometimes violent street protests in Hong Kong are helping tarn...

BENGALURU/HONG KONG - Long-running and sometimes violent street protests in Hong Kong are helping tarnish its luster as the main physical gateway of gold to China, the world’s top bullion buyer.

Clashes between anti-government activists and police in the regional financial hub are spooking tourists and subduing jewelry sales amid concerns about the logistics of shipping the precious metal out of the city. The risk for Hong Kong is that it loses further control of a liquid and portable asset that is traditionally a major conduit of capital flight during periods of economic uncertainty.

“We know at least hundreds of millions worth of gold has left Hong Kong, mostly to Singapore, but some to Switzerland,” Rotbart added.

 

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delhi130 idk know if you noticed yet but this is Nirayl from class

Sorry for the inconvenience

I guess it’s Business or LOSE YOUR FREEDOM. Lose your rights no more business 🥴🤔 as they say all that glitters is not gold.HongKongProtests

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