Author: Lawrence Williams
Posted: Friday , 03 May 2013
LONDON (MINEWEB) -
On the face of things the answer to the question posed by the title should be obvious – but.... What prompted the question is a whole rash of Internet headlines regarding a mad rush to purchase gold by the Chinese over the May Day holiday. By all accounts gold bullion and jewellery dealers were overwhelmed by the numbers of people flooding in to buy gold – particularly in Hong Kong where premiums were believed to be not as high as on the mainland.
Some of the headlines seen were as follows: China Gold Mania - Coins, Bars and Jewelry Sales Surge 108% on Goldseek; Chinese housewives buy 300 tons of gold on Marketwatch; HONG KONG gold retailers overwhelmed by mainland shoppers on China Daily; CHINA - Gold Helps China May Day Sales Rise 20% on Forbes; CHINA - Housewives' gold rush keeps price from fallingon People’s Daily online etc. ...