Chinese trader Bian Ximing racks up $3 billion on gold surge and $500 million on Shanghai silver slump

Chinese trader Bian Ximing reportedly earned nearly $3 billion from long gold positions on the Shanghai Futures Exchange before turning bearish on silver. By January 30, his Zhongcai Futures unit had built a 30,000‑contract silver short, equivalent to about 450 tons, as prices peaked and later fell over 16%, generating substantial profits despite earlier losses.