China’s young investors are stockpiling gold beans Gold, the leading commodity, has drawn investors’ attention by reaching a new all-time high of $2,195 per ounce. Now, young Chinese investors are deploying capital to accumulate gold beans and other gold jewelry for wealth protection. Interestingly, these beans have become very popular among China’s Generation Z, due to their accessibility by weighing one gram each. Therefore, around $76, if we would consider Gold’s price index of $2,155 per ounce. However, each gold bean costs around 600 yuan, or $84.5, as reported by Bloomberg. This is mainly due to the beans’ costs of production and China’s premium on the commodity in a closed market. Is it safe to invest in gold now? Following the recent all-time high, investors may wonder if it is still safe to invest in gold. Although it is impossible to predict gold’s further price action, it has historically performed well under macroeconomic uncertainties as the world is currently in. Notably, gold is one of the most solid and popular investments in human history. Furthermore, the commodity features as the leading asset by capitalization with over $14 trillion in market cap. On that note, these young Chinese investors stockpiling gold means seem to believe this is a safe play long-term. It is also notable how the trend in China is directed to really holding gold, instead of betting on the commodity’s price performance through ETFs or other financial instruments. Gold price in USD per ounce, daily chart. Source: TradingView (Finbold) In closing, Gold’s daily price chart in dollars per ounce shows strong momentum, for the popular investment commodity. Investors worldwide should now watch potential price support at $2,075 and trade cautiously. For investors looking for alternatives, the cryptocurrency and the stock markets have developed similarly to gold recently, as reported by Finbold. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Record Start to 2024: Companies Ramp Up Share Repurchases READ MORE Government Says, Inflation in December Was Even Lower Than First Reported READ MORE The Silver Institute: Demand Soars to Near-Record Highs in 2024 READ MORE BRICS Nations' Gold Rush: Safeguarding Economies Against US Recession Fears READ MORE A Comprehensive Guide to Gold Coins: Investing in Canadian and International Options READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment