03 Feb 2026 | 5 Mins Read
Rookie trader suffers 84% loss in China's gold market crash
Flipitmoney
Chinese traders suffered massive losses after a record gold rally reversed sharply, wiping out gains and triggering liquidations. For a homemaker, Merry Chen, a 1 million yuan investment increased 60% in 48 hours but lost 84% after the drop, resulting in a 750,000 yuan loss. Chen and other speculators' losses are emblematic of a widespread crash, with spot gold falling 10% and silver plunging 16%.