Editor's Note

Buying gold has long been regarded as the best way to invest safely. All over the world, more and more people are collecting gold. Businesses are going all out to attract the most buyers and trying their best to get the most out of the gold rush. As a result, some rather luxurious gold items have emerged.

Latest News

Gold drop spurs buying spree in China Source:cntv.cn

Gold edges up in electronic trading from 1-week low Gold futures on the COMEX division of the New York Mercantile Exchange edged higher on Wednesday in electronic trading, after closing out the regular trading session at a one-week low, finding support after the US Federal Reserve made no changes to its bond-buying program.  Gold gains on central-bank prospects Gold futures on the COMEX division of the New York Mercantile Exchange gained on Tuesday, buoyed by expectations that the US Federal Reserve will stick to its easy monetary policy, but still logged the worst monthly performance since late 2011.

More:

Gold falls on profit taking

Chinanimation: Golden fears

Gold rises sharply on prospects of easier monetary policies

Gold rises on physical demand

Gold price freefall prompts "gold rush"

Gold Price Charts

Source: goldprice.org

Source: goldprice.org

Commentary

Global Times:

With few sensible places to put their money, Chinese capital holders are still all too keen to speculate on gold and other assets which might help them maintain the value of their wealth and hedge against inflation.

Xinhua:

As gold prices fell to a two-year low last week, unprecedented physical demand from all over the world started to take advantage of the low prices, leading to a notable rebound, an expert with Dubai's first bank Emirates NBD said Friday.

cntv.cn:

What are the reasons behind this decline? Some strategists have cited the improving outlook for the US economy, which reduces the metal’s appeal as a safe haven investment. Others have pointed to official selling from central banks, to China’s lowest than expected annual growth rate, and to an already sharp correction that has caused short-term investors to flee the asset.

news.china.com.cn:

Pi Haizhou, a financial analyst 

“Not only is gold hoarding driven by mere admiration for the precious metal, but the 10-year gold bull market has given casual investors the impression that gold is a slam dunk investment.”

Zhang Lei, chief analyst with Beijing Gold Exchange

“Purchasing gold jewelry is different from a gold commodity investment, it is not a way to get rich overnight, and people should consider long-term trends before investing.”

Beijing Business Today

Chen Hanhua, foreign currency trader with the Bank of China, Beijing Branch

“After the subprime mortgage crisis, the FED (the Federal Reserve) attempted to stimulate the US economy by devaluing the dollar. As a result, many turned to gold as a safe haven investment.”

 “However, after the market stabilizes and the economy shows positive signs of recovery, investors will venture beyond gold and buy more risky and higher-yielding assets. 

“In other words, there is an increasing probability that the price of gold will continue to drop as market conditions improve, so investors who blindly buy up gold commodities run the risk of holding up if they don’t sell instantly before the next drop in prices.”

 

Photo News

Foreign Media Reports

Guardian:

Stockbroker Brewin Dolphin said the more widely held view is that increases in supply of all metals and weakening demand in China and the eurozone especially, accounted for at least some of the decline in gold prices.

BBC:

Gold has fallen to its lowest level in two years, while wider commodity prices have also declined following disappointing Chinese economic data.

The Telegraph:

Gold suffered its biggest one-day fall in three decades, crashing through $1,400 (£913) an ounce as investors faced with a bear market turned to panic selling.

News Vocab

“黄金价格走势”huángjīn jiàgé zǒushì

trend in the latest international gold prices

To learn more, click here