Chinese Gold Buyers Flock to Chrismas Sales

Chinese retailers broke 300 yuan per gram for the holiday. Spot is currently about 235 yuan. Chinese shops sell most gold at a per gram price including jewelry. The price is listed on a big board and the jewelry "price" tag only has the gold content listed in grams. Sometimes a craftsmanship fee is added, but it is usually very small relative to the total price. Most of the cost comes from the markup on the gold, which is the same across most products.

There is bullion available for investment at near spot prices, but bullion with a nice design often costs as much as beautiful jewelry and gold statues.

In an event, as the photos at link show, Chinese like sales, they like gold and they love gold sales.组图：黄金价格年末再降 民众圣诞节蜂拥抢购

Update 10 AM: This news made it's way onto ZeroHedge. What Chinese Consumers Are Rushing To Buy This Christmas