Hong Kong Financial Secretary: Safe-haven assets such as gold have experienced a “brave advance and sharp retreat” correction

Comparing news, Hong Kong's Financial Secretary, Chan Mao-po, published the Secretary's essay “Stay Positive and Prudent”, which states that turbulence in the global market situation triggers drastic movements in international capital, and even when viewed as safe-haven assets, there is a correction after prices have repeatedly reached new highs. Take the price of gold as an example. Taking on the increase of the past four years, it surged by nearly 30% in January of this year, challenging the record high of 5,600 US dollars, but there has been a significant rebound in the past few days. At one point, it fell more than 12% from a high level. Hong Kong's financial system has maintained steady and smooth operation, with total bank deposits exceeding HK$19 trillion. The global political and economic situation is rapidly changing, and there will be no shortage of risks and fluctuations in the coming year.