Gold News

Chinese Buying Gold as vast rate

A Chinese bullion dealer has suggested that a Gold Investment frenzy has taken over the communist state, with the yellow metal experiencing a surge in interest.

Xiam Zang, a bullion dealer in Beijing, said that more Chinese people seem to be Investing in Gold, with residents of both big cities and more rural communities looking to profit from the yellow metal, according to Commodity Online.

He told the news provider: "Chinese people are buying more gold these days. In fact, many people are now convinced that gold is the best investment asset.

"There are increased requests from jewelry shops for supplying them with gold. The gold buying spree is not just limited to Beijing or big cities. Even in rural areas, people are simply Buying Gold."

At the end of last month, Annabel Brodie-Smith, communications director for the UK's Association of Investment Companies (AIC), said that continued economic recovery could result in resources becoming the best performing sector over the coming year.

She said: "Interestingly this year's 'gold rush' is tipped to continue with over a quarter of managers predicting that gold will be the top-performing asset."

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