China's Gold Market in Oct.-Nov

摘要

Gold price in Shanghai Gold Exchange has been climbing up since October when the National Day's holiday ended, tracing the international gold market that was backed up primarily by the continuous depreciation of US dollar, strong demand and restricted supply. People are turning back to gold as risks hedging. On Thursday October 28th, the People's Bank of China raised interest rates for the first time since July 1995, lifting its benchmark lending rate from 5.31 percent to 5.58 percent, which would hit the real estate sectors. So some people that used to buy houses as investment tool will choose other tools. While gold is a relatively better choice for investment and risks hedging. That can be shown from people's enthusiasm for buying the Gold Roosters, gold coins and so on.