by Jesse Colombo
GoldSeek
For the past several months, I’ve been theorizing and writing about the compelling idea that another major gold surge would be driven by Chinese futures traders coming out of dormancy to propel gold to $3,000 an ounce and beyond. And remarkably, it now appears that this is exactly what’s unfolding. In this piece, I’ll walk you through the background of this fascinating and unfolding theory—along with the evidence that it’s playing out in real time.
To provide some context, the powerful $1,200 gold bull market of the past year began in the spring of 2024, driven largely by aggressive Chinese futures traders on the Shanghai Futures Exchange (SHFE), while Western investors largely stayed on the sidelines. In just six weeks between March and April, these traders propelled gold prices upward by $400—or 23%—an extraordinary surge. While their activity quieted for a while, I’ve been anticipating their return, expecting them to drive gold to staggering levels—well beyond $3,000 an ounce.