China’s New Tax ‘Control’: Gold’s Price Holds Steady, USA Tags Silver ‘Critical’

Despite China’s new ‘Control’ tax imposition on the gold trade, the price of the precious metal remained remarkably stable. The move by China, one of the world’s biggest gold consumers, was generally mooted as one that would significantly impact the international gold market. However, against predictions, the gold price showed strong resistance, providing evidence of the precious metal’s steadfast nature.

In contrast, silver was declared ‘critical’ by USA in a move that will likely catalyze increased demand and potential price hikes in the silver market. The proclamation puts silver in the same category as other commodities vital to the country’s economic and national security.

Both developments provide thought-provoking insight into the precious metal’s market, serving as a reminder of their integral role in the global economy. Read More