综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

China / Society

Chinese Dama investors lose big as gold loses shine

(chinadaily.com.cn/Agencies) Updated: 2015-07-21 15:20

Chinese <EM>Dama</EM> investors lose big as gold loses shine

Customers buy gold jewelry at a shopping center in Xuchang, Henan province. China's central bank said that its bullion reserves have increased 57 percent to 1,658 metric tons since 2009. [Photo/China Daily]

Chinese Dama, or middle-aged women, seemed to have lost a lot after they bet big on gold as the price of the yellow metal sank to its lowest level in more than five years.

Many Dama investors recently turned away from the Chinese stock market, which has been on a roller-coaster ride in the past few weeks, and invested on the gold.

But bullion for immediate delivery tumbled as much as 4.2 percent to $1,086.18 an ounce, the lowest price since March 2010.

Gold has fallen out of favor with investors as US Federal Reserve Chair Janet Yellen prepares to raise rates this year, boosting the dollar. While China also updated its bullion reserves on Friday for the first time since 2009, the 57 percent increase to 1,658 metric tons was smaller than had been estimated.

China bought about 604 tons of gold since 2009, second only to Russia, according to data from the People's Bank of China, or the central bank, and the International Monetary Fund. The total holdings make China, the world's biggest producer and fifth-biggest gold owner.

In mid-April 2013, when gold prices fell to a lower level, many Dama investors jumped at the chance for what they deemed a bargain.

It was estimated that the Dama investors bought 300 tons of gold in 10 days. But the exhilarating scenes of Chinese Dama buying out all the gold in every jewelry store has gone sour with the gold price continuing to fall since then.

Chen Sijin, a senior consultant at Royal Bank of Canada's Risk Management Department, wrote in an article in Beijing News that price of the gold jewelries purchased by the Dama investors were generally higher 20 percent than the international gold price.

Different from bullion, they are not investment commodities in the real sense as the jewelries can't be kept to fend off inflation, he said.

The Dama investors who bought gold today won't be able to recoup their costs until the gold price surges to $1,360 an ounce, Chen said.

Highlights
Hot Topics
...
延庆县| 香河县| 交城县| 巴彦淖尔市| 元朗区| 蓝田县| 东平县| 四川省| 中卫市| 霍林郭勒市| 安康市| 理塘县| 广水市| 芜湖县| 密云县| 宜兰市| 定西市| 乾安县| 绩溪县| 独山县| 延津县| 娄底市| 承德县| 六安市| 岳阳市| 阿勒泰市| 海阳市| 鄂托克前旗| 象州县| 东山县| 台中市| 景德镇市| 司法| 台南市| 扎兰屯市| 加查县| 香河县| 巴楚县| 襄垣县| 新疆| 和林格尔县|