![](\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/02\/GettyImages-2259699073-e1770578608720.jpg?w=2048\")
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Treasury Secretary Scott Bessent cited Chinese traders as a reason behind last week\u2019s wild swings in the gold market.\u00a0<\/p>\n
\u201cThe gold move thing \u2014 things have gotten a little unruly in China,\u201d Bessent said on Fox News\u2019\u00a0Sunday Morning Futures<\/em>. \u201cThey\u2019re having to tighten margin requirements. So gold looks to me kind of like a classical, speculative blowoff.\u201d<\/p>\n Bessent was responding to a question about a record-breaking rally in precious metals \u2014 fueled by speculative buying, geopolitical turmoil and concern about the Federal Reserve\u2019s independence \u2014 that abruptly reversed last week.<\/p>\n The turmoil helped lift the dollar to its\u00a0first weekly gain\u00a0since early January while the Dow Jones Industrial Average topped 50,000 for the first time, reflecting investor optimism about the US economy and corporate earnings.<\/p>\n With midterm elections coming in November, Bessent cited the Dow Jones record as evidence the US economy is headed for an upward cycle that will benefit ordinary Americans.<\/p>\n On Federal Reserve policy, Bessent said he expects the central bank to move cautiously in any effort to trim its balance sheet.<\/p>\n \u201cI wouldn\u2019t expect them to do anything quickly,\u201d he said. \u201cThey\u2019ve moved to the ample-regime policy, and that does require a larger balance sheet, so I would think that they\u2019ll probably sit back, take at least a year to decide what they want to do.\u201d\u00a0<\/p>\n President Donald Trump\u2019s nominee to become the next Federal Reserve chair, Kevin Warsh, \u201cis going to be very independent, but mindful that the Fed is accountable to the American people,\u201d Bessent said.\u00a0<\/p>\n During a Senate hearing Thursday, Bessent told lawmakers it would be up to Trump whether to sue Warsh if he failed to lower interest rates as Trump prefers.\u00a0<\/p>\n Pressed by Senator Elizabeth Warren, Bessent said the remark stemmed from a joke Trump made, defended Warsh\u2019s qualifications and highlighted Trump\u2019s expectation that the Fed nominee align with his views on interest rates.<\/p>\n<\/div>\n #Bessent #sees #unruly #Chinese #trading #gold #price #swings<\/p>\n","protected":false},"excerpt":{"rendered":" Treasury Secretary Scott Besse… <\/p>\n","protected":false},"author":1,"featured_media":19992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[494,5850,158,100,564,7276,2573,12257],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/19991"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19991"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/19991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/19992"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}