Chinese buyers are known to be some of the world’s most furious buyers of gold, a fact that gives comfort to gold bulls during these trying times.
But even those Chinese buyers might be tiring out a little bit.
From Global Times:
Affluent dama, middle-aged Chinese women, are seen as one of the major groups of buyers for gold products.
“I couldn’t wait to buy gold as many of my colleagues and friends had already made their purchases,” one consumer was quoted by Xinhua News Agency as saying in April.
However, many of these enthusiastic investors suffered losses as prices have dropped further since April.
“Their purchasing approach has become more cautious than before,” Jiao noted.
Recently, customers have been buying gold bars “in smaller amounts to avoid risks,” said Jiao.
Peng Lihong, a 30-year-old white-collar worker, told the Global Times Tuesday that she planned to buy 150 grams of gold bars, banking on the precious metal as a safe investment.
But she said she would buy it in several batches, as gold prices could keep falling.