Falling gold price triggers hot sale in China

According to the China.com.cn News, recently the international gold price plummeted, touched a record low of $ 1,322 / ounce, compared with the of September 2011 high of $ 1,921 / ounce, down nearly $ 600, the cumulative decline is more than 30%.

A run on gold bars in China

In , the reporter went to the jewellery stores in Beijing Guohua shopping malls, 20,000 grams of gold bars were sold out in just two hours. In addition, customers surrounded the counters of the well-known jewelry brands such as Chow Tai Fook and Chow Sang Sang. Recently, a lot of media reports suggested that in many cities, the gold bar stocks are running low in counters of China National Gold, the Old Phoenix and other famous brands. 10 grams, 20 grams gold bars are out of stock, stock of 50 grams and 100 grams gold bars is running low with many consumers can only choose to book in advance.

Experts suggest to buy in gold in batches

Tianyi Golds senior researcher Xiao Lei said, “considering the consumer demand, is appropriate for the public to buy in gold when the pricing is falling. The second quarter is usually the off-season for gold jewelry consumption, is expected that the price of gold will likely remain weak.” He suggested that investors can choose to purchase in batches in the current market conditions to avoid loss due to continual decrease of the gold price.

Reference/Source: http://finance.china.com.cn/money/nmetal/hjzx/20130420/1404338.shtml

Leave a Reply