Low prices and the tradition of gift-giving help boost gold sales in China during the Spring Festival. As we wrap up the holiday season, let’s take a look at how the gold market has fared during the break.
The hustle and bustle only illustrates how popular the yellow metal is. Welcoming the Chinese new year, the little nuggets gained much steam among Chinese gift givers, especially those in the shape of the four-legged animal, marking the year of the horse.
The week-long holiday break suspends domestic gold trading, putting the retail price at the same level as when trading closed, and luring many buyers to take advantages.
The hustle and bustle only illustrates how popular the yellow metal is. Welcoming the Chinese new year, the little nuggets gained much steam among Chinese gift givers, especially those in the shape of the four-legged animal, marking the year of the horse.
The week-long holiday break suspends domestic gold trading, putting the retail price at the same level as when trading closed, and luring many buyers to take advantages.
Experts say lack of investment channels and demand for gifts during the holiday season healped boost gold sales. But when it comes to which direction the price would move in 2014, analysts are divided. At least for now, with the glistening bling bling around people’s necks and wrists, everybody seems happy.
Source: CCTV
