On April 12th, the value of gold has been continuously decreasing, in just 10 days, chinese women spent four thousand and seven hundred billion Taiwanese dollars on 300 tonnes of gold. This amount was way over what was spent last year.
Starting of March this year, many economist pointed out that gold may be the key in resurrecting the economy of United States.
When the international price of gold drops, the women from china purchases gold. Starting from April, the value of gold in China has been rapidly decreasing. On the tenth day, the value of gold was sitting at 403 RMB per gram. On the eleventh, it decreased to 388 RMB per gram. Until the sixteenth and seventeenth day, it was around 300 RMB.
According to a Chinese women form Guang Zhou, mentioned in the past, the value of gold was at a constant flat rate. Seeing the rate of gold dropping everyday, couldn’t resist the urge to purchase gold. This Chinese women from GuangZhou spent two thousand three hundred millon Taiwanese dollars and bought twenty kilograms of gold. Not only in Guangzhou, the demand for gold has also risen in Beijing, Shanghai, and Hangzhou.
At a famous gold accessory store, all gold accessories were sold out in just 25 days.
This immense demand for gold even affects gold accessories stores in Hong Kong, even when the prices were a little more expensive.
An economics professor felt that the increasing demand for gold was due to limited options of investment for citizen of China. Thus, leading to the increasing in demand for gold from people from China.
The economists are mentioned that most Chinese women are purchasing gold for their daughters.
According to People.cn, due to the purchase of 300 tonnes of gold within the 10 days, the value of gold will start to rise again at the end of April.
The providers of gold stopped the further release of gold. Some professions say that people know the suppliers of gold, but they do not know the power of chinese women, who have an great effect on the market for gold.
By Yu Hsuan Cheng