China’s gold markets become haven for horde of eager buyers
==========
China’s gold markets have experienced a surge in buyers as people look for stable investments. The Hualin International Jewelry Market in Guangzhou has seen a flood of new gold stores and an increasing number of customers. The price of gold has been volatile, with customers buying products with lower grams due to the high prices. Chinese consumers have been selling off old jewelry amid record high gold prices. The People’s Bank of China has been buying bullion to diversify its holdings. A large deposit of gold was discovered in Qinghai province. Gold prices have been hitting historic highs globally. Some investors are holding paper gold as a hedge against concerns over wealth management and money supply. The timing of actions by the US Federal Reserve and price volatilities in the domestic gold market are factors affecting the market.
#China #GoldMarkets #Investments #PriceVolatility #People'sBankOfChina