Tuesday, January 4, 2011

Chinese swapping yuan paper notes for physical gold bars

Chinese TV has been giving extensive coverage to the rush of Chinese investors buying physical bars of gold they are now the biggest gold purchasers in the world. If savvy Chinese investors sense their economy is slowing down, it probably is.

Another reason is the property market. Housing speculators from southeastern China are switching their money from property into gold following government restrictions on the real estate market

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