Latest News:  
Beijing   Light rain/Sunny    11 / 4 ℃  City Forecast

English>>China Business

Gold demand to recover in fourth quarter: experts (3)

By Gao Changxin (China Daily)

09:22, November 16, 2012

"Consumers now attach more importance to design when buying gold jewelry than ever before, but they are aware of prices as usual," said Xu.

Yan Fang, a sales consultant at a gold store in Shanghai's Yu Garden, one of the city's gold jewelry hubs, has also seen changes in buying habits, as consumers tend to buy gold jewelry in batches, as an investment.

"Fewer individuals are buying gold jewelry for themselves or as gift this year. However, we have frequently seen big orders, such as 500,000 yuan ($79,000) worth of gold rings being bought in a single purchase."

Investment managers said they had seen more demand for gold bars and commemorative coins, than for gold-backed exchange-traded products.

"An increasing number of investors realize that buying gold may add stability to their investment portfolios and they are seeking long-term yield rather than short-term profit," said Li Xiaodong, a wealth manager with China Construction Bank Corp.

Wang Zhe, head of Shanghai Gold Exchange, said in Hong Kong this week that it would be launching over-the-counter gold exchange-traded funds on Friday night.

An interbank market will also be opened that it will start with spot contracts and gradually offer forward contracts, said Wang.

Contact writers at gaochangxin@chinadaily.com.cn and wuyiyao@chinadaily.com.cn

【1】 【2】 【3】


We recommend:

A Decade of Fastest Development

Eastern Boom Lightens Western Gloom

Chinese firms 'potential Trojan horses'? slows

AVIC unveils new aircraft engines

Oct. data released, inflation slows

13th Int'l Automobile Industry Exhibition

China Int'l Industry Fair opens in Shanghai

Caofeidian coal wharf put into use

Galaxy Soho building in Beijing

Email|Print|Comments(Editor:梁军、马茜)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. China’s J-10 fighters give performances

  2. Daily Review of Airshow China

  3. Sky-gazers gather in N. Australia

  4. 'Gangnam style' life of young rich

  5. Luxurious antique style vessel with 5D cinema

  6. Galaxy Soho building in Beijing

  7. Su embroidery: stunning Chinese folk arts

  8. Who looks better?

Most Popular

Opinions

  1. China should change growth model
  2. Bell Helicopter identifies China as strongest market
  3. RQFII quota expansion to bolster stock market
  4. IPR pirates face tougher prison terms
  5. Why 'Diaosi' gets so popular in China
  6. Reliance on investment should be reduced
  7. Live and let learn
  8. Coddled kids in need of tougher sports
  9. Commentary: Turning point for growth
  10. Airline outlook: Less turbulence, more profit

What’s happening in China

'Gangnam style' life of young rich in Chongqing

  1. Police warn seniors about telecom scams
  2. Wedding gifts on school uniforms?
  3. Tiger' parenting more like folk prescriptions
  4. Dead mosquitoes lead to road accident
  5. Rhinestone motorist fails to impress police