While the US consumer is rushing to spend what little savings they have left and grab that last for 2013 “X% off” deal from the local inventory-clearance bin on plastic Made in China trinkets or marked-down clothing, Chinese consumers are likewise scrambling to buy products. Only, unlike in the US, the object of China’s affection is not some gizmo that will end up in the local landfill within 3-6 months. China News Network shows what it is.
Google Translated from Chinanews:
Gold price lower and lower end of the Christmas rush of people buying
Taiyuan a gold shop gold prices as low as 287 yuan / gram, people flocked buying gold jewelry. Western Christmas in China has gradually become the “Consumer Day”, much of the gold market on this day after discounts, plus the price of gold hovering cheap Christmas discounts, and more gold has broken 300 yuan / gram mark.
With the recent stumble endlessly international gold prices, gold investment income in 2013 or will be achieved for the first time in 13 years is negative. As for 2014, the price of gold, most institutions are still bearish.
Publicly available data show that this year, gold prices fell more than 25%. The picture shows a gold shop in Taiyuan people flocked to buy.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/IArU3wEidfE/story01.htm Tyler Durden