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Special> Video> Latest
UPDATED: October 8, 2010
Investors Smitten with Gold

 

The continuous rise of gold prices has sparked Chinese investors' enthusiasm to buy up big in the heavy metal. During this year's National Day holiday, gold sales are booming across the country.

Investors' enthusiasm in gold investment is as high as the gold prices. Customers are lining up to pay for the gold products they've chosen.

"It's safe to invest in gold. The prices have risen by more than 60 yuan (about $9) per gram. Gold investment has huge potential," a customer said.

During the National Day holiday, gold sales have increased by more 40 percent over the same period last year.

Several gold stores have even seen sales double on October 1 alone.

Along with soaring gold prices and matching investors sentiment, investment in large gold bars are becoming increasingly popular.

In Hangzhou, east China's Zhejiang Province, bulk purchases of gold bars are gaining momentum. Investors are eagerly snapping up gold bars of ten or more kilograms.

"One customer ordered 10-kilograms of gold bullion, which cost him about 3 million yuan (about $450,000). Another customer bought gold bullions of 27 kilograms in one purchase," said a salesperson with China National Gold Group Hangzhou Branch.

The National Day holiday is coming to an end, but it seems gold sales will continue to climb. As long as prices keep rising, investor enthusiasm doesn't look like dampening any time soon.

(CNTV.cn October 7, 2010)


 
 

 
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