According to CoinMeta, Joao Wedson indicates that as China's M2 money supply grows relative to the United States' M2, the prices of gold and silver also tend to rise. Currently, China's M2 is approximately 2.3 times that of the United States, with a gap of nearly $30 trillion. When we compare this monetary expansion with the gold/silver market, a very interesting correlation emerges. One possible explanation is that when liquidity expands significantly, especially outside of the United States, some capital seeks scarce monetary assets to protect itself from currency devaluation and a decline in purchasing power. China is also one of the largest consumers of physical gold in the world, and central banks around the world continue to accumulate gold as reserve assets. Therefore, this is not just a story about gold; it could also be a story about global liquidity. At present, China is playing an increasingly important role in this process.