Pure 24 carat gold has a special place in the hearts and minds of the Chinese, who love its beauty and its practicality. So while investors around the world were dumping gold last month, shoppers in China (and elsewhere in Asia) have been lining up in droves outside jewellery stores and banks.
For Chinese people, no other material item on earth so epitomises wealth, prosperity and family tradition. And (rightly or wrongly) it is also regarded as an insurance policy, currency hedge, inflation hedge and international currency all rolled into one. Why? Continue reading »