Chinese people are scared: buying gold in turbulent times, but they vanished/government ignore it

Рет қаралды 66,244

Күн бұрын

#Chinainsights#Chinanews
An old Chinese saying goes, "Buy gold in troubled times and collect antiques in good times."
For many Chinese, right now is a time to buy gold, not to collect antiques. Because the Chinese economy continues to weaken, the stock market is depressed, the Chinese currency depreciates, and bank interest rates are too low, a gold-buying frenzy has emerged in mainland China. However, many Chinese don’t realize that the economic bubble is bursting; along with it, popular gold companies are going bust. Several gold stores in Beijing and Shandong Province have closed and "gone on the run," leaving customers unable to redeem their gold. The accumulated losses exceed 400 million yuan, or about $55 million.
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Пікірлер: 297

@zelgie3013 Ай бұрын

land of fake things selling gold beans doesn't make anyone skeptical?

@7hroomy Ай бұрын

As soon as he started talking about them I was already thinking the same thing lol

@thevalkyrijafriendsshow5955 Ай бұрын

But China number one, reree *little pink noises*

@kevins1852 Ай бұрын

China has been known to sell gold-plated tungsten before. Also fake US gold coins.

@Canyouseemeanna Ай бұрын

They have been brainwashed to believe blindly that CCP is trustworthy.

@CryptoCryoto Ай бұрын

It’s called Nordic gold it’s a mixture of copper and other metals to look like gold. Just five have an acid test and most of this gold is fake!

@dissy5563 Ай бұрын

If you don't hold it, you don't own it!

@MrPhippo91 Ай бұрын

If you don't check if it's real and pure you don't own it either.

@christophe2496 Ай бұрын

You must be crazy to hold 5kg of gold at home !

@quercus3290 Ай бұрын

gold is only worth what you want it to be

@Asd-tk2if Ай бұрын

@@quercus3290 Not really. Now most things use gold. An example would be smart phones.

@MrPhippo91 Ай бұрын

@@Asd-tk2if Not really. Only 8% of the newly mined gold is used for industrial purposes. The vast majority is used for jewelery and as a store of value.

@zzdlover2005zz Ай бұрын

The problem is they trust the seller in holding the gold so they can earn an additional amount of gold in return. The seller ran away with their gold. Never ever trust anyone with your money and valuable items.

@doctoruttley Ай бұрын

Yep…if you don’t hold it, you don’t own it. 🪙

@JL-yt5hy Ай бұрын

never trust any one, especially banks in China with your valuables.

@sprinkle61 Ай бұрын

The problem is not trusting the seller, the problem is the INTEREST. WHERE does gold earn interest at 4 %, this is the problem. Interest is the cheese, guess who the mouse is.

@WTHH2 Ай бұрын

Gold has been money for thousands of years

@johnc2438 Ай бұрын

@@WTHH2 ...and thieves love taking your money... been that way, too, "for thousands of years"! 🤣

@user-nv5zi7tg6h Ай бұрын

When it is about money and corruption chinese are hard to trust 😂😂😂😂😂😂😂😂

@acheable Ай бұрын

Worst is the mastermind who print US $"gold" paper.

@jilldawson89 Ай бұрын

The Fools and their money.

@sleepinglaffey3886 Ай бұрын

#theskydontlie Patriotism of Xi JinPork Puke: daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card #sloprosperity #crashperity

@RogueReplicant Ай бұрын

@@sleepinglaffey3886Keep posting this. Everyone should know about Winnie the Flu's hypocrisy.

@sleepinglaffey3886 Ай бұрын

@RogueReplicant Damn straight I will continue to, Even Karl Marx would be disgusted of him for twisting his words into basically nazbol tankie fascism that is leninism or maoism (Marxist chinese students get disappeared inside china too), Same thing with Vietnamese party members too

@sleepinglaffey3886 Ай бұрын

@@RogueReplicant tripped YTs autofiltering so reposting;And I will, Even M*** would be disgusted with twisting it into nazbol tankie fascism or maoism

@youbetyourwrasse Ай бұрын

How many acres is you Landholding my friend?

@TDK2K Ай бұрын

I can't trust physical Chinese gold.

@musemellow Ай бұрын

don't trust anything Chinese.

@verzeda Ай бұрын

The only chinese thing I trust is that whatever I'm looking at is touched by corruption to some degree or another

@EroticOnion23 Ай бұрын

Okay, go trust Trudeau who cares

@IanMikrut Ай бұрын

@@EroticOnion23So if you don't trust China, you have to trust Trudeau? I don't think you understand how trust works. This seems like the Logic a Chinese Bot would use.

@randomguy7891 Ай бұрын

@@EroticOnion23 Hello little pink

@evanangel2022 Ай бұрын

Throw those beans in the backyard you might get a goose that lays golden eggs

@arlenegarza4353 6 күн бұрын

Unless your lisa marie presley. They were all snakes after Elvis money.

@brunojm7282 Ай бұрын

With all the fake gold there, good luck.

@EroticOnion23 Ай бұрын

Chinese (and Indians) have been using gold for thousands of years, you think everyone’s stupid like you??…😂

@zeorhymer6 Ай бұрын

Didn’t they just have a massive gold scam where a company had fake gold bars?

@JL-yt5hy Ай бұрын

yes, it was filled with other metals inside.

@gurumeditation8911 Ай бұрын

I would not touch gold sold in China. Chinese people should only buy from reputable sellers outside China.

@JalomMatia Ай бұрын

but most Chinese are not able to travel outside of China

@5anjuro Ай бұрын

@@JalomMatia it's relatively easy to visit Hong Kong, Singapore or Thailand. All three are major centers for the gold trade.

@JalomMatia Ай бұрын

@@5anjuro most cannot afford to travel outside of China, and they need a visa to travel to HK. so most Chinese never leave the mainland.

@videosandrehome 28 күн бұрын

Amen!

@videosandrehome 28 күн бұрын

@@JalomMatiawhat about ordering?

@williamstearns7490 Ай бұрын

These “beads” are just a clever scam that these kids are paying a very high Stupid Tax on. And the nature of these beads makes it tougher to verify at the counter. Unlike the small bullion bars you can buy, which have very specific x,y,z dimensions and weights that can be quickly measured against the manufacture specs with a cheap set of digital calipers and scale you can put in your pocket, these bead blobs don’t have standardized sized. To verify their authenticity you’d have to weight it, drop it in a very accurate graduated cylinder to measure volume displaced, then compare that to to the weight of gold of the same volume. And if that bead is gold plated tungsten carbide it might still be close to expected weight. So you’ll also need to do a conductivity test, as tungsten is much less conductive than gold. And I’ll bet you anything that if anyone rolled into their shop with the appropriate gear to accurately assess the gold they are buying, you’d be quickly shown the door. Or the police will show up and you’ll be arrested for “making a scene” or whatever reason they like and your gear confiscated.

@michaelh411 Ай бұрын

Those are probably gold teeth fillings from organ donors.

@seemaoak469 29 күн бұрын

Their Government is selling to media that economy growth of 5.3% is achieved 😂😂😂😂.

@ZombieCSSTutorials Ай бұрын

I want to have a heart to heart here: They better be buying up on food and other essentials rather than gold beans. This world is heading into hell in a hand basket.

@Gwanzan3325 Ай бұрын

As long as the gold is real, then it is better to have those beans than yuan. Until masses of fake or gilded gold destroys trust in gold as well, of course.

@VainerCactus0 Ай бұрын

Yup, a few cans of food and bottles of water plus a few hours of planning what to do in the event of emergency will be worth more than gold. But you should still have at least some gold.

@thebranch3874 Ай бұрын

Buying food stuff at least they can cook it in hell free 😂

@godzilla928 Ай бұрын

And dig a fallout shelter in your backyard? 😂

@highbread817 Ай бұрын

This is what people have been saying for 50+y now. Where has it gotten them? Being prepared is good but being so pessimistic you don't invest and grow is as bad as being foolishly optimistic

@billycarr7446 Ай бұрын

"If you don't hold it, you don't own it!" They should build that into a nursery rhyme instead of The Message®. It would keep people from doing stupid shit like havind someone else hold on to their life savings for them.

@williamstearns7490 Ай бұрын

Then, in all probability, all they’ll be “holding” is a copper-brass alloy, a lead-antimony alloy with a tungsten core, or just gold-plated silver or tungsten carbide. Even in the US people believe those little gold bars in blister packs are “pure” gold without ever verifying the precise dimensions and weight against the standards. Ive seen so many “certified” diamonds that are nothing but cubic zirconia, moissanite, or even white sapphires. And there are tons of “lab certified” gemstones that are just dyed quartz. Most people, here or in China, couldn’t tell the difference, know how to verify, or see past the gadgets the salesman may use to lend credibility (that you can buy on Amazon) which are practically just props. Most buyers don’t even try, so long as there is a well groomed salesperson with a well lit display case, who can put on a show, has nice props, flatters you like a wealthy patron, and produces an official looking piece of paper with the words “certified” somewhere along with someone’s signature. Sorry for ranting. I’m an exploration geologist (oil/gas, REE), and one of the penalties of my education and experience is that this stuff makes me crazy. 😑

@daniell1483 Ай бұрын

Gold has represented value for as long as humanity has known the metal. When it comes to investments, it is normally one of the strongest ways to store value. So I can't help but feel pity for the Chinese who got scammed or outright victimized by the CCP. It's so messed up that these people's source of security is laden with metal impurities. It serves as a stark reminder: ensure the authenticity of your purchase, or else you might get burned!

@auraguard0212 Ай бұрын

Well, the CCP privatized China Gold. Then China Gold franchised. Then the franchises did a Ponzi scheme to survive the franchise fees.

@Ben-xf7uy Ай бұрын

If there is one thing i would NEVER buy from China. Its an antique... the counterfeiting quality is seriously impressive though. From art to jewelry to furniture.

@MK_ULTRA420 Ай бұрын

All of China's real antiques are already owned by the CCP and CCP members.

@teodoro8001 Ай бұрын

Don't Trust chinese

@Aliphatic Ай бұрын

Very true bro

@D3xterJettster Ай бұрын

Don't trust communists either

@JL-yt5hy Ай бұрын

sad but true. including this website

@D3xterJettster Ай бұрын

Don't trust the commies

@GeepeBrow Ай бұрын

Never

@sunnydayempire6964 Ай бұрын

How do you prove that it is gold? I can print "999" on a lot of things.

@arnezbridges93 Ай бұрын

This has been a worry ever since banks were invented. Gives ever king and emperor sleepless nights.

@RogueReplicant Ай бұрын

You know by purchasing from a shop that buys them back without question. That's the only way to know. I "rotate" my gold bars by selling them back to the shop every so often, sometimes making a small profit like I did recently.

@CryptoCryoto Ай бұрын

Acid test you can buy a test kit online. Companies like valcambi or credit suizze are legit. Things from China NOT legit.

@EroticOnion23 Ай бұрын

Is that what you got on eBay?? 😂

@brianwang9017 Ай бұрын

Density, recall intro chem class, use the density of gold to calculate the mass based on the volume.

@twest3686 Ай бұрын

Get your block of lead painted gold. LOL

@EroticOnion23 Ай бұрын

Is that what you bought on eBay?? 😂

@twest3686 Ай бұрын

@@EroticOnion23 I buy lead at the usual ammunition shop.

@peterwulff469 27 күн бұрын

- no, they coat tungsten with gold.

@RogueReplicant Ай бұрын

So the Chinese customers didn't take the gold home because the seller promised them a bonus if they let him store it for them. JC, how effing dumb do you have to be, wtf 😮

@vooteimer1234 Ай бұрын

Not your key Not your karot

@I_SuperHiro_I Ай бұрын

Buying gold in China…..seems legit. I’d like to cash in this gold. Sir, this is brass.

@michaelh411 Ай бұрын

Living in a material world 🌍

@jont2576 Ай бұрын

money. makes the world go round. once upon a time, the west owned all the gold and made all the rules and controlled the world. US and EU represented a whopping 64% of global GDP output in 1999,that percentage has shrunk to 35% since then)..... today China will show them what a true golden era Tang dynasty looks like.

@MZMA85 Ай бұрын

Buy a 999 gold bar only to find out later that the bar is actually gold-wrapped tungsten bar

@dontcare7086 Ай бұрын

If you buy gold and only have a slip of paper to show for it you're missing the point.

@franklinden3497 Ай бұрын

Thems beans look too perfect for me. There should be at least slight oxidation on them . They look spray painted 😂

@EroticOnion23 Ай бұрын

Oxidation?? 😆

@danyoyoh Ай бұрын

@@EroticOnion23yes, like spots of rust. Silver does it too

@EroticOnion23 Ай бұрын

@@danyoyoh gold never rusts, bub. Have you ever seen gold in your life?? 😂

@michaelearlgrey 29 күн бұрын

@@EroticOnion23Go easy bro. Most people haven't. But yes, gold doesn't rust.

@jayc4715 29 күн бұрын

Dumb

@jaeho7501 Ай бұрын

And then they turn out to be just gold-painted M&Ms.

@JalomMatia Ай бұрын

that's why you need to bite the gold to ensure it is not chocolate or candy.

@b4ph0m3tdk9 Ай бұрын

Then they will have a very expensive snack.

@Zizook Ай бұрын

Hey, it’s cool the Chinese people figured out there are no investment opportunities in china. The last thing I guess is left is commodities. When hell breaks lose Gas, and precious metals will save your life I guess.

@MK_ULTRA420 Ай бұрын

The only real commodities left worth investing in China are imported goods, and those are routinely swindled by customs enforcement. That just leaves investing in personal skills that can be quickly monetized, but even that's impossible when you have no legal access to global internet, and the remaining education available is also a rigged system.

@jamesdimmick2230 Ай бұрын

I’d never bye gold in China again as what I brought was fake

@hihellokitty85 Ай бұрын

Fool's gold

@jeffreyschweitzer2234 Ай бұрын

Fools gold

@ValenTIGER Ай бұрын

Is there such thing as "real" thing there? If it is not Fake then it is not authentic Chinese!

@bingsterc7621 Ай бұрын

They SERIOUSLY NEED TO BE CAREFUL whenever they’re buying Gold, because they could very well be buying FAKE Gold, since it can be easily replicated or faked.

@capitalistdingo Ай бұрын

I understand the attraction for gold when every other place to put your money is a dodgy pyramid scheme but it is important to remember some things: Gold isn’t an investment, it is a horde. Gold is a commodity. When demand goes up, investment in mining, prospecting and refining of gold go up until the price starts coming down. The long term trend of gold reflects its quality of a commodity; it price goes up, price goes down… the trend is flat. The only way you do well buying gold is if you happen to buy when it is low and just happen to need the liquid cash when the price is high. That usually isn’t going to work out. The people who tell you how great gold is never show you the numbers of how much they made buying gold. They are made up of 2 groups: those who have bought lots of gold and now want to cash out by convincing everyone else to buy when they want to sell and those who belong to the World Gold Council, a group made up of miners, prospectors, jewellers and traders-people with an interest in making people see gold as an investment instead of a commodity. It isn’t a “strategic hedge against inflation”.

@goodnightmyprince6734 Ай бұрын

3 bots in the comment section. Well done

@richardc488 Ай бұрын

God bless the Chinese gold bugs

@alexpearson8481 20 күн бұрын

Buy coins, weight them and do the ring test. 100% fool proof.

@lukang72 Ай бұрын

How China has fallen so fast is sad to see how normal people are impacted

@b4ph0m3tdk9 Ай бұрын

If only we had sound money none of this would be happening.

@quercus3290 Ай бұрын

its mostly fake gold now anyway

@nelsonta00 Ай бұрын

from $30million heist to $55million stolen gold. 2 the richest economy. We are so fk'd

@EvilGrin Ай бұрын

"Buy gold in troubled times and collect antiques in good times." Yeah, and then when the real crisis hits, trade all your gold for a can of tuna, and cook it on the fire you build from the antiques. Just with real estate before, the chinese people are conned out of their savings yet again. Gold is a good investment if you never ever have to touch it again. If you need to trade it in an emergency, you'd be surprised how little of value it can be all of the sudden. I can understand how the people would not trust banks, after what has happened in recent months and years, but trusting the people that sell you gold to keep it safe for you? That's Charles Ponzi's wet dream...

@johnc2438 Ай бұрын

Gold isn't an investment -- investments pay dividends or interest on a periodic basis. Gold doesn't, unlike the stories those buyers of gold in China were told. Gold cannot do anything on its own. Owning all or part of a company (called a "share") that provides a product or service where income is derived is an investment. If the product or service is a good one, that share of ownership can grow in value (a "capital gain"). Gold does none of those things. It simply sits someplace (as a ring, under your bed as "beads," coins or bars, or at a bank or other "safe exchange"). Gold, instead, is a "store of value" where you hope that it doesn't lose value at the time in the future when you sell it. Investments work for you; gold doesn't.

@DanafoxyVixen Ай бұрын

Better ask Jack about the magic beans

@D3xterJettster Ай бұрын

Read the polls Jack! -Sleepy Joe

@hackersulamaster Ай бұрын

Imagine setting your entire population up to hoover all the random gold so you can easily rob it later. Its like an immediate bribe to their own kidnappers!!

@MK_ULTRA420 Ай бұрын

I couldn't imagine myself as anything but a dictator in that situation. Kings never had the luxury of fleeing to other countries without worry.

@jeremiahlee6335 Ай бұрын

Gold coins and bars in China can be fake

@michaelearlgrey 29 күн бұрын

They can be fake anywhere...

@cjsamtab7 Ай бұрын

True Artificial Intelligence

@TheLazyfoo Ай бұрын

whats the chinese motto if you get cheated you deserved to be scammed?

@virginiamontoya2685 Ай бұрын

It's hard to pick between food paying bills are hope to save on gold😮

@davestaff1889 Ай бұрын

That saying in beginning is only good advice in inverse perhaps. Should buy antiques in "bad times" as are much cheaper perhaps, gold is much cheaper in "good times" as are alternatives with higher rates of return.

@gantech7788 Ай бұрын

The most lived by Chinese idiom. "If you aren't cheating, you're losing."

@arlenegarza4353 6 күн бұрын

They can't sell it. The shops are closed.

@oleksandrdudchenko6617 Ай бұрын

If only there was a way of storing monetary value digitally in a permissionless and decentralised network with a limited supply of currency units 🤔🤔

@nopoint2427 Ай бұрын

New leek harvesting strategy they didn't learn their lessons from the local bank shutdowns.

@BlitheApathy Ай бұрын

Allmost want to just say why buy gold, or anything really. If the yuan/banks collapse the government will just take it later. Right?

@Vex916T Ай бұрын

There is literally a layer of gold that wraps around the planet of Earth and the areas of this gold layer comes closest to the surface between California and Wyoming... so this assumption that there's barely any raw gold or most of the gold has been dug out is the same marketing BS said about the rarity of diamonds because both are abundant things within Earth.

@dt7767 17 күн бұрын

Sorry that these people dont know their govt and trust them.

@CalimehChelonia Ай бұрын

Gold is real money.

@CryptoCryoto Ай бұрын

This is not real gold it looks like Nordic gold a mixture of copper and other metals to look like it’s gold

@arlenegarza4353 6 күн бұрын

I like the bean concept. Who can afford 700 to 2400

@will6334 19 күн бұрын

Why would you buy gold and leave it in the custody of others. Guaranteed that gold you bought was back in the display cabinet the second you left the store.

@farhaadrazack8183 18 күн бұрын

Dump the US dollar now

@Follower_Of_The_Onions Ай бұрын

Heinz bean are the best!

@user-ii8pw6kp7n Ай бұрын

Great China

@D3xterJettster Ай бұрын

Best forgery in the world!!

@aerotus888 Ай бұрын

A fool and his money are easily parted

@vanessali1365 Ай бұрын

There's no medicine for stupidity. Sheeple don't think for themselves, just follow whatever other people do, that's is perfect condition for scammers to take advantage of them.

@user-tx4yn7en9u 4 күн бұрын

Gold and Silver If You Can't Hold It, It's Not Really Yours If You Don't Hold It, Then You Don't Own It

@aBc-123-XyZ Ай бұрын

The Silent Generation 1928-1945 79-96 years old Baby Boomers 1946-1964 60-78 years old Gen X 1965-1980 44-59 years old Millennials 1981-1996 28-43 years old Gen Z 1997-2012 12-27 years old Gen Alpha Early 2010s-2025

@88gcllc 10 күн бұрын

Shiny rocks will never help u like ammo does

@stanjs Ай бұрын

The most important thing failed to be mentioned and explained is the SGE gold price trading at a premium to other exchanges.

@LilyBelamare Ай бұрын

I like the gold beans it’s cute! I would love to buy them weekly!

@davidporter9131 Ай бұрын

Despite the slightly higher risk, all gold purchases should result in physical ownership. Any and all 3rd party storage systems can go bust and everyone looses everything!

@netizencapet Ай бұрын

In the USA, gold is a relatively bad investment. In China, given the ban on purchasing foreign equities & the instability of domestic equities, property, & bonds, physical gold's good.

@maackiaamurensis5703 Ай бұрын

Physical gold is an awesome investment everywhere if you just want to preserve your purchasing power.

@danyoyoh Ай бұрын

How is gold bad??? Price was 250 in 1999. Now its 2400. Thats 1000% gain, in USD. much higher vs other paper currencies

@thebranch3874 Ай бұрын

It's not actually real gold but covered with copper

@shundi4264 Ай бұрын

US propaganda reflects its racial and political anxieties and its profound insecurities about its own failures and decline.

@donatematchacookie Ай бұрын

Keep buying them please I'm cashing in these bags from your retail price 😂😂

@chuck5553 Ай бұрын

The Chinese people just can’t catch a break. Two of the best investments (Real Estate and Gold) gets the rug pulled out from under them If you don’t physically hold it…you don’t own it

@sseebbyi 15 күн бұрын

No more real estate? Switching on gold beans? Next what? Soybeans or Beancoins?

@t2k777 Ай бұрын

no such thing as an honest business

@godleveleldritchblast5257 Ай бұрын

This is the thing bloomberg doesn't get, if you don't hold it in your hand, you don't hold it. Also always go to a registered gold dealer even if it's 10% above spot price because that 10% is in relation to purity quality. They will make sure it's certified pure gold.

@AmbreenBaigBrisbane 28 күн бұрын

They can go to India to sell gold.

@joshuajackson3736 Ай бұрын

Not a good idea maybe 1/10 oz gold

@AladimBR 19 күн бұрын

Gold is not an investment. You will loose money in the long run.

@c2h2c2h210 Ай бұрын

You should buy coins, easier to distinguish

@nesseihtgnay9419 Ай бұрын

1990's arent genZ they are millennials

@uss-dh7909 Ай бұрын

Absolutely not, Z is 95 onwards. I refuse to associate with the generation that destroyed the future.

@Chronos_Eternia Ай бұрын

@@uss-dh7909 Gen Z start at 1997 until 2012 so their current age is between 12 - 27 at this time.

@FrozenHaxor Ай бұрын

@@uss-dh7909 Wrong

@videosandrehome 28 күн бұрын

@@uss-dh7909how have Millenials done that?

@marknordgard1916 20 күн бұрын

Only in China as usual 😅😂😅😂

@altonwilliams17 Ай бұрын

What happened to the new format?

@jirajira2872 Ай бұрын

why some people are so stupid its beyond understanding

@Killercutsvideo Ай бұрын

Lots of those gold beans are fake

@Sb129 Ай бұрын

I like how quaint the gold beans thing is but unfortunately I'd imagine most would be fake.

@johnbonilla8850 Ай бұрын

Can I buy this in USA?

@KneelB4Bacon Ай бұрын

You can't eat gold and anyone trying to sell it to you these days is probably a scammer. (selling you lead bars with a thin layer of gold on them). Buy something useful, like fishing and camping equipment and get out of the city while you still can.

@e5211 Ай бұрын

What happens if you get a tooth ache. Break your leg or get an infection. Hospitals and doctors don't take fish as payment.

@dustbin5044 Ай бұрын

@@e5211 Learn to be self sufficient on everything.

@e5211 Ай бұрын

@@dustbin5044 good I theory. Except humans work better in groups. We're pack animals. We help each other. It's what helped us to thrive. And especially when it comes to health. No way you can treat your own medical issues beyond any first aid stuff. Plus. A solitary life isn't for everyone. Most people rather be with family and friends through tough times than alone in good.

@DylanDominguez1 Ай бұрын

Sad, all because they banned btc…

@Jason-sf8vx Ай бұрын

Those who buy gold will gain and spare of trouble time

@jiaweike3518 Ай бұрын

Yeah! Bling Bling! Cha Ching! So much Moolah. It is better if gold is used to make electronics. Better way to preserve its value.

@acheable Ай бұрын

Difficult to change the traditional mindsets of Chinese not to excessively spend on gold during festive periods. Huge population spending on gold do increase cash outflow in turn destabilising its reserve. If China gov policy of restriction on gold purchase is implemented its may stop gold fraud trading too.