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A new wave of ‘Gold Rush’ sweeps on the first day of 2014

(People's Daily Online)    17:21, January 03, 2014
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Buyers swarm to a gold jewelry counter at Cai Bai, a gold jewelry store in Beijing, on Jan. 1, 2014. (Beijing Times/ Pu Dongfeng)

The decreasing gold price did not affect Chinese customers' enthusiasm in the new year. Yesterday gold buyers once again swarm to gold jewelry counters to hunt bargains.

Cai Bai, one of the largest gold jewelry chain stores in Beijing, reported sales of 200 million yuan (about $33 million) on the first day of 2014. China Gold’s flagship store at Jiang Zhaikou sold more than 150 kilogram of gold yestersay.

In an hour, gold buyers pushed Caibai's sales up to 10 million yuan, which hit a record high. As 2014 is the year of the horse in China, horse-related golden products are the best sales in the store. Other gold stores also had a good beginning in sales.

Chinese consumers are not deterred by the continued falling prices of gold throughout the 2013.Gold became more appealing to them. Most investors believe it is perfect time for purchasing and storing gold because the prices are close to the cost. The sales of 150 kilograms of gold at Jiang Zhaikou's store yesterday proved that Chinese gold buyers’ explosive demand will continue this year.



A staff of Cai Bai replaces empty counter as the gold products are quickly sold out. (Beijing Times/ Pu Dongfeng)


Related News: Did Chinese dama lose big as gold set for biggest annual loss in 32 years?

(Editor:WangXin、Chen Lidan)

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