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Shanghai buyers queue for bargain gold sensing the price is right
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
ArabianMoney was in Shanghai for the gold bargain sale this week and shops reported booming sales in the yellow metal. Those old hands who sold expensive gold 18 months ago have come back to the gold stores.
They head mainly for the gold bars for investment, shunning the tacky golden statues that the tourists used to buy and the shiny platinum counters, recently installed to try to excite some retail buyers.
20kg sold
The biggest buy was 20 kilograms in one-kilo bars for six million yuan. That’s not going to make good the 13.9 tons Cyprus wants to sell but it is the tip of the iceberg as far as the millions of potential Chinese gold buyers in concerned.
Thanks to BrotherJohnF
2013-04-18 00:47:02
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