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Chinese Economic Implosion Not Supporting Gold; Ira Epstein’s Metals Video 8 18 2023

In a recent video update, commodity analyst Ira Epstein discussed the recent lack of support for gold from the Chinese economic implosion. According to Epstein, the recent turmoil in the Chinese economy has not had the expected impact on the price of gold, leading to a bearish outlook for the precious metal.

The Chinese economy, which had been a major driver of gold demand in recent years, has been experiencing significant hardships in recent months. From a slowing GDP growth to a crackdown on various industries, the Chinese economic implosion has led to a decrease in demand for gold as a safe-haven asset.

Epstein noted that despite the economic turmoil in China, the price of gold has not seen the expected rise. This lack of support from the Chinese market has created a bearish sentiment among traders and investors, leading to a downward trend in gold prices.

In addition to the Chinese economic implosion, Epstein also discussed the impact of the U.S. Federal Reserve’s potential interest rate hikes on the price of gold. He pointed out that the anticipation of higher interest rates has further dampened the demand for gold, as investors seek yield from other assets.

Despite these challenges, Epstein remains cautiously optimistic about the long-term prospects of gold. He noted that while the current conditions may be unfavorable for the precious metal, the underlying factors that have historically supported gold prices, such as inflation and geopolitical tensions, are still present.

Furthermore, Epstein highlighted the potential for a resurgence in demand for gold in the future, especially if the Chinese economy stabilizes and geopolitical tensions escalate. He advised investors to monitor these developments closely and consider taking advantage of any potential buying opportunities.

In conclusion, while the Chinese economic implosion has not provided the expected support for gold prices, Ira Epstein remains cautious but optimistic about the long-term outlook for the precious metal. Investors are advised to closely monitor the developments in the Chinese economy and geopolitical tensions, as they may provide opportunities for the price of gold to rebound in the future.