Chinese gold demand is strong
The chart is supposed to say "Yuan per gram" but the picture is clear. Chinese gold demand is strong, with Shanghai Gold Exchange $Strong Global Entertainment, INc.(SGE)$ premium staying above 2.5% vs. historical normal of 0.5% to 1.0%.
Chinese are looking for alternative investments to protect themselves from a slowing economy and weak real estate market. $Chow Tai Fook Jewellery Group Limited(CJEWY)$ $Chow Tai Fook Jewellery(01929)$ $Luk Fook Holdings International Ltd(LKFLF)$ $LUK FOOK HOLD(00590)$
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https://twitter.com/BrianTycangco/status/1719273760858268096
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