Monkey Year gold bar to hit local market next week
( 2003-12-03 10:54) (eastday.com)
The gold bars to celebrate
the coming new year, or the Chinese Year of Monkey, will hit the market in
Shanghai next week, a week behind the schedule, today's Shanghai Morning Post
said.
Local supply, as well as those to other provinces, has been delayed to
increase the supply in Beijing, where a gold rush has been roused for the
memorial metal products, the report said, citing officials with Shanghai Gold
Coin Investment Co Ltd, supplier of the gold bars.
As a result, the local supply, scheduled to begin early this week, will
probable arrive late this week and the products will go on the shelves from next
week, according to the officials.
Expecting Beijing's hot market reactions to be copied in Shanghai, the
officials are quite confident about the local market. They didn't rule out the
possibility that some people would maliciously rush to buy the gold bars for
investment purposes. To prevent from this situation, the officials said their
company has required the gold bar producer to increase the supply.
Investment experts ask people to remain cautious about gold investment and
warn against huge purchase in a lump sum. They advise to buy the gold bars on
separate days to lower the costs as gold price keeps changing.
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