Tuesday, 25 February 2014

Chinese People Are Buying Gold Like Groceries


Below a video from Chinese state TV network CCTV on the gold buying spree around the Lunar Year. Although I didn’t manage to produce subtitles (working on it!), I think the images speak for themselves.

Anyone who thought this gold rush would come down anytime soon is wrong. It seems the Chinese are in a state to buy all the physical gold that can be supplied. The beauty of internet is that I have a lot of sources in the mainland, and Chinese that live in other parts of the world, that sent me regular updates on what’s happening in Chinese jewelry stores, in the paper gold market, on the SGE and in the Chinese media if they happen to stumble on something newsworthy.

- Source, In Gold We Trust: