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Gold Price Hits 28-year High in
Update: 10/6/2007 2:10:00 AM Source: lifeofguangzhou

 

Guangdongers, including Cantonese, have strong tradition of buying gold and gold-wares, especially in festivals like the "Golden Week" of Chinese National Day from October 1 to 7.




A salesman shows gold bars at a shop in Guangzhou, China on October 2. [Guangzhou Daily]

The retailing price of gold accessories soars to 28-year record high RMB 223 (US$ 29.3) per gram in Guangzhou, China, starting from October 2. It is pushed by traditional festive buying rush and international price rise.

The overall sale of gold-wares, however, keeps booming in the city despite the price rocketing.

The retailers in popular shopping places like Teemall, Beijing Lu, Huanshi Dong Lu and Shang XiaThe "gold rush" makes live the trainings of gold investment and second-handed gold sourcing in Jiu profit a lot so far during the "Golden Week", while the gold shops deep inside communities and less-crowded streets suffer sale drop, according to Guangzhou Daily. 

Guangzhou.

Local professionals advice against the heated mind of gold investing.



Editor: canton fair


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