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With the Lunar New Year less than a month away, sales are booming for gold items made to mark the Year of the Ox.
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With the Lunar New Year less than a month away, sales are booming for gold items made to mark the Year of the Ox. Many are also buying them as an investment in uncertain times. But experts warn that such purchases may not hold their value.
With the Lunar New Year less than a month away, sales are booming for gold items made to mark the Year of the Ox.
In Caibai Jewelry market in Beijing, this gold ingot is currently the most popular item. There's an ox lying in the ignot representing the animal sign of 2009. Other New Year gold products are also flying off the shelves.
One customer said "I bought 8 sets, though some are for my friends. This is the first year they've launched this kind of product. I think it has collectable value. It's also an investment."
Many consumers consider the investment value of gold when buying these products. But since the prices of these products are much higher than the price of pure gold, experts are warning of the risks involved.
Liu Shanen, Secretary-General of Beijing Gold Economy Research Center said "Gold collectable items are ultimately still gold. But since the price of gold is readily available, consumers should choose items that are as close as possible in value to the actual price of gold."
Analysts say gold bullion has a higher investment value than other gold products. This is because the price of gold bullion is closer to the price of gold, and can better hold its value.
(CCTV.com Decembe 31, 2008)
