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Friday, 5th February 2010 (498 views)

For many Chinese gold consumers, the yellow metal is a precious gift with a valuable meaning, according to one jewellery store owner.

Ding, a gold jewellery store manager in Shanghai who goes only by her surname, tells the Vancouver Sun that during special festivities such as Valentine's Day, the shop sees hordes of customers hoping to buy pieces made of the precious metal.

"You wouldn't be able to get close to the gold counters then", she says.

She adds that many customers buy gold jewellery as a gift to pass down to their children or to give to someone in the future.

Furthermore, when a person has spare money, they tend to invest it in gold, Ding states.

But it is only the best quality gold jewellery that most Chinese customers tend to buy, with more than 85 per cent of shoppers opting for 24-c gold pieces, she advises.

Her comments come as recent figures show that demand for gold in China grew by an estimated 13.8 per cent in 2009, which could mean that the country is set to overtake India as the world's largest consumer of gold.

 

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