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China’s gold rush: why families are doubling down on precious metals (www.scmp.com)

submitted 8 hours ago by rss@news.abolish.capital to c/china@news.abolish.capital

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People across China are buying up gold in large volumes ahead of the Lunar New Year holiday, as surging prices for the precious metal fuel its popularity as both a festive gift and an investment. From migrant workers splashing out on gold-coated jewellery, to white-collar workers pouring their savings into gold-linked investment funds, the metal is widely seen not only as a marker of social respectability, but also as a safety net amid an uncertain world. The rising demand comes amid an...

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