Is China attempting to wrest control of Gold pricing from the paper-dominated west?

The article argues that China may be trying to shift gold pricing power away from Western paper markets toward physical bullion trading. It highlights several large Chinese banks—led by ICBC—ending or restricting retail paper gold/futures products, effective July 24 in ICBC’s case. The piece suggests this could reduce speculative leverage, lower volatility risk for banks and investors, and strengthen China’s influence via the Shanghai Gold Exchange and a Hong Kong-based clearing system. It also cites data showing gold has outperformed in Asian trading hours while often weakening during U.S. hours, framing this as evidence that physical-market dynamics may better reflect true price discovery. Overall, the piece is supportive for gold’s longer-term pricing power and bullish on the prospect of a more Asia-driven, physically backed gold market.