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Gold in hot sales in China

08-30-2010 11:21 BJT

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International gold prices have increased, pushing up China's price of the precious metal. With the rise of retail prices, a traditionally low season in gold sales is embracing a small peak.

The pure gold price has reached 306 yuan per gram. Yet gold shops are still receiving a stream of customers.

Many people come to purchase gold jewelry especially on the weekends. Sales could amount to more than 20 million yuan a day.

July and August, traditionally the low season, are now embracing hot gold sales.

One customer said "The price is a little bit high. In March, it was 280 yuan per gram,but now its 300 yuan per gram."

And it's not just jewelery. Gold bullions are being snatched up too. 500 and 1000 gram-bullion have even been out of stock.

Other provinces and regions have also seen large increases in the price of gold accessories. In Jinan, the capital city of Shandong province, prices have risen 10 percent since July.

Industry insiders say that with the upcoming wedding season, Mid-Autumn Festival and National Holiday all approaching, the prices of gold products will continue its hike.

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Editor:Xiong Qu |Source: CNTV.CN

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