You are here

Young Chinese spurn traditional investments in favor of gold

Section: Daily Dispatches

By Casey Hall and Amy Lv
Reuters
Tuesday, December 5, 2023

Gold buyers in China are getting younger, as a property market downturn, weakening stocks and currency, and low bank deposit interest rates have left them with dwindling options to save for rainy days in a sputtering economy.

The trend underscores heightening uncertainty about growth prospects in the world's second-largest economy, which has not recovered from COVID-19 lockdowns as fast as consumers and job hunters had expected.

"The employment market has not been very good," said Linda Liu, 26, who works for a pharmaceuticals company in Beijing, but worries about job stability. "Buying gold makes me feel better."

... Dispatch continues below ...


... ADVERTISEMENT ...

Fisher Precious Metals offers great prices
with personal service from a family team

Family-owned and operated Fisher Precious Metals is a great low-cost source for precious metals -- coins, rounds, and bars. But we also get you the highest prices available when you sell your precious metals.
 
Expect a personal approach with Fisher Precious Metals. You can always speak directly with the owners within 24 hours if not immediately. We provide you a team you can get to know and call at any time to discuss your investments with no pressure to buy.

Check our Google reviews to see what our clients have to say:

https://g.page/FisherPreciousMetals?share

Contact us at 1-800-390-8576 or Info@FisherPM.com or visit us here:

https://fisherpreciousmetals.com/


"I want gold jewellery instead of diamonds for my wedding."

China is the world's top buyer of physical gold and analysts say this year it has been an increasingly important driver behind a rally in global spot gold prices, which hit all-time highs on Monday.

Analysts expect Chinese demand for the safe haven metal to remain high as economic growth grinds lower in coming years and foreign investment outflows weigh on the yuan, while the property market is still looking for a bottom.

"Incomes are not really appreciating, real estate is not really appreciating, the stock market is not really appreciating," said Jacques Roizen, managing director of consulting at Digital Luxury Group in Shanghai. ...

... For the remainder of the report:

https://www.reuters.com/markets/commodities/young-chinese-spurn-traditional-investments-favour-gold-2023-12-05/

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16