Chinese consumers rushing to buy gold in China even at record high price

25th September 2010
International gold prices rallied to record highs on Friday, with spot prices nearing US$1300 an ounce. China's gold prices followed the trend and continued to climb. But consumer enthusiasm hasn't been affected.
It's China's traditional gold rush. The peak season for gold sales coincides with the two national holidays.

Impacted by a weaker US dollar and holiday consumption, international gold prices hit record highs.
In China,the price of pure gold exceeded 340 yuan per gram (?). But consumer enthusiasm is just as high as the gold prices. One resident said "For us, the price is very high. But we need to buy gold now since the price continues to increase." Consumers have flooded into gold shops, to find their perfect accessory.

Liu Ru, Sales Manager of Gold Shop said "Chinese people share a concept. That is to buy gold when the price is climbing. Since now it is holiday, many customers buy gold accessories as presents for relatives and friends. And also it is wedding season, increasing gold demand."

Silver prices have also soared, and even reached a 30-year high... making investments in the grey metal more attractive than ever. Analysts say the continuous decline of the US dollar has stimulated investors to choose safe
haven products such as gold. And with high consumption and investment demand, gold prices will continue to rise in coming days.

Category:

Education

Tags:

• Chinese buying gold
• China buying gold

[MONOPOLY35]

Americans have misunderstood the value of gold since 1981. 30 years later, the Mainstream Media is declaring a gold bubble when these same educated fools were unable to predict the dot com and real estate bubbles. Central banks with INSIDER INFORMATION avoided dot com stocks and real estate investment during bubble mania. Now they're buying gold! Think about it! If gold is in a bubble, why are central banks buying gold? There is no way these insiders are stupid enough to fall for a gold bubble.

[Ganbareg]

And in the west they shout sell us your gold sell us your gold NOW! hmm think about it people.