What Chinese Consumers Are Rushing To Buy This Christmas

Tyler Durden's picture

While the US consumer is rushing to spend what little savings they have left and grab that last for 2013 "X% off" deal from the local inventory-clearance bin on plastic Made in China trinkets or marked-down clothing, Chinese consumers are likewise scrambling to buy products. Only, unlike in the US, the object of China's affection is not some gizmo that will end up in the local landfill within 3-6 months. China News Network shows what it is.

Google Translated from Chinanews:

Gold price lower and lower end of the Christmas rush of people buying

Taiyuan a gold shop gold prices as low as 287 yuan / gram, people flocked buying gold jewelry. Western Christmas in China has gradually become the "Consumer Day", much of the gold market on this day after discounts, plus the price of gold hovering cheap Christmas discounts, and more gold has broken 300 yuan / gram mark.

With the recent stumble endlessly international gold prices, gold investment income in 2013 or will be achieved for the first time in 13 years is negative. As for 2014, the price of gold, most institutions are still bearish.

Publicly available data show that this year, gold prices fell more than 25%. The picture shows a gold shop in Taiyuan people flocked to buy.

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TeamDepends's picture

Bullish (for stackers)!!!!

Divided States of America's picture

The Chinese likes to sell fake stuff, those ppl better make sure its not filled with tungsten

caShOnlY's picture

Tungsten has been flowing west to east.  Been a trend for a while now.  One of the west's finest exports !(besides paper and inflation)

kliguy38's picture

"He who waits for 900.....waits for wong wong time"

malikai's picture

This happens every year in China before the Chinese New Year.

Not quite sure what's news worthy out of this, unless it's one of those BTFHope posts seen so regularly around here.

SoilMyselfRotten's picture

Get the feeling the Asian youth is more informed than ours here in the US?

Boris Alatovkrap's picture

Youth in Asia, maybe is final solution.

kreso's picture

Sorry for sucking the life out of the perfect joke:

http://www.youtube.com/watch?v=Ya_uJHdOtdc

FTFY

Kind Regards,

janus's picture

apologize for nothing...you beat me fair and square.

janus won't post anything in response...in respect -- perfect clip.

i know when i've been bested.

+ big exponent.

salud,

janus

Boris Alatovkrap's picture

Presently, Boris is confuse...

fedupwhiteguy's picture

so funny dude!!! thanks much for that clip.

ich1baN's picture

I lived there and have a Chinese girlfriend.... I would say the Asian youth is about as informed as the Western Youth, meaning they aren't well informed at all.

They only care about the next Lady Gaga song coming out or the next Psy song as much as our youth in the West do.

They are as equally ignorant as youth everywhere else are...... my chinese girlfriend at first resented the idea of buying silver and gold telling me her government would bail everyone out.

It is mostly the older generations that are buying up gold and silver in china, not the younger for you folks that have never been to or lived in china. 

eclectic syncretist's picture

Fiat is the mother of all bubbles, and the Chinese know bubbles.  In fact, they make bubble tea for American tourists.  Check it out!

http://www.engrish.com/2013/09/im-bubble-tea/

Boris Alatovkrap's picture

Mother of all bubble is Boris in bath after big bowl of Bortsch.

(Boris is apology for excessive use of alliteration.)

chinoslims's picture

You can't be Russian because you correctly used big words in a four-word phrase (". . . excessive use of alliteration"). Sorry, comrade. You are as Russian as Sean Connery's accent in The Hunt for Red October.  /sarc off

You are funny guy and make you make ZH comment section very enjoyable.  Boris keep up the good work.

Boris Alatovkrap's picture

Boris realize literary creation by accident! Is make for new twister of tongue tie...

Boris is blow bubble in bath after big bowl of borstch.

You are repeat 10 time without mix line and win prize.

goldflows's picture

This guy was literally everywhere a few years back on some forex forums.  Forexfactory comes to mind..

Same idiot-like communication.  You can use google translate you know?

akak's picture

Boris,

Big booming brobdingnagian beer belches beat bantam bath barszcz* bubbles bodaciously!

 

*As a Pole, it would be traitorous of me to use the Russki slang word in place of the proper name for this beet-based soup.

Boris Alatovkrap's picture

Akak is very smart funny, is create most difficult phrase for oral reproduction. So, Boris is share special recipe for very most delicious bortsch... mix full body whole cream in broth* and when is eat, sprinkle paprika and add large big dollop of sour cream in bowl.

* Beet is optional as is turn Boris' urine crimson color.

BringOnTheAsteroid's picture

Fuck me, funny. I don't whether I peruse ZH for information and knowledge or pure unadulterated comedic entertainment.

If I drank I'd toast you with a Vodka, and vomit in my hair.

Hulk's picture

His girlfriend love him long, long time !!!

Lmo Mutton's picture

Sir, the girl that said that was Vietnamese.  But who cares right?

The Final Straw's picture

I visited my cousin in law's home last summer, in South Korea. They tried to run the aircon and TV at the same time, which killed the power in their brand new apartment. They called a maintenance guy, who simply pushed a button to reset the breakers. They tried the TV + aircon again, with the same effect. Rather than resetting the power themselves, they waited 20 minutes for the maintenance guy again. They wouldn't even allow me to do it. People are stupid everywhere. Ever wonder why Asians wear slip on shoes? (They can't tie up their shoes.)

robobbob's picture

get the feeling the chinese know what the western bankers play book calls for when the smoke and mirrors stop working and the public start demanding to know where 's the $$$.

11b40's picture

Which is why certain factions so desparately want to stop Iran's nuclear programs, and why Iran will not really give it up.  It is their "get out of jail free" card.....a big F.U. to Western central bankers

 

 

Hulk's picture

There is no fucking way China would win a war with us, the new treasury purchases alone would bankrupt them !!!

hairball48's picture

Yes, it happens every year. I believe the point of the article is that there is more buying this year than past years because this year the price is way down over years past. It's a matter of degree.

But beyond that is the point of the Chinese buying "something of real value" while American's are "borrowing from foreigners(Chinese) to buy shit they can't afford and don't need."

One day the sheeples will figure it out...maybe. Long odds on that happening any time soon though.

malikai's picture

Everybody is buying things of real value - to themselves.

Those hordes kicking the shit out of each other the other day were doing it to get those valued shoes. Don't ask me why, but they do..

The sheeples won't figure it out. They never do. The important thing is that you and I figure it out.

I'll be in Beijing just before the Chinese New Year. I'll try to make a trip to the big shop and see what the score is then. But demand is always high there and those shops are always busy. People love to put gold on their kids. But the kids would rather have other stuff.

Exponere Mendaces's picture

And how do we know this is the "good stuff", right? Chinese love to pull one over on their fellow citizens, it all could be thinly plated garbage for all we know. This isn't a shop with racks of mini gold bars on sale, guys...

But keep on pumping that agenda...

Socratic Dog's picture

My local gold merchant tells me I only need to worry about bars 10oz and up, it's too difficult for the smaller stuff.  Would that I had that concern....

YuShun's picture

Unfortunately, it's not too difficult.  
I have some one ounce "silver coins" (Chinese, American, French, etc...)
that look perfect even with a magnifying glass, but a magnet will pick
them up.  I had a magnet with me when I bought them, and they
were sold to me as a collection of replicas, but someone could
easily try to pass them off as real.  A magnet would detect a one-ounce
"gold" coin made mostly of iron, and a good scale would detect one
made of copper or nickel, but one made of tungsten would be very
hard to detect. 

Antifaschistische's picture

LOL....YES THEY DO...The Chinese love to sell fake stuff.    TO AMERICANS!!   AND WE BUY IT!!   THE JOKE'S ON US!!

americhinaman's picture

The Chinese likes to sell fake stuff, those ppl better make sure its not filled with tungsten

---

I guess you were joking; of course they check, as does any gold importer.  There are on-site checks on the way into the country, but those aren't foolproof.  Most of the gold entering the country is not in standard size/purity for the local market or PBOC vaults, and that's by design.  It forces an additional purification/metalworks process, during which it is tested very precisely for purity.  Chinese SOE-mined gold goes directly to pboc vaults, obviously they don't need to check the gold they dig up themselves... no point lying to theirselves (well it's possible the miner's execs might try to fake it, but that would be very risky... definitely a death penalty infraction if they exaggerate gold mined or purity).  only importers that have been tested to provide gold with purity as stated are used for repeat business or for large orders.

As for sales at local retail stores... well I personally would stick with either a PBOC outlet for pandas or a large listed-company store for jewelry.  Once gold has entered the country and has been tested for purity, it isn't as stringent to test gold changing hands within the country.

ZH Snob's picture

gosh, who would want some heavy piece of metal when you could get a nifty iphone instead?

thunderchief's picture

They sell enough fakes to know what is real.  My closet is filled with thier fake shit and this is what they are buying with the proceeds.

If you want an American fake buy a comex futures contract or shares in GLD and SLV.

NeverForgetSilver's picture

My understanding is that people in China buy expensive stuff to show off their wealth. Gold is only one of these types of status symbols. Others include LV bags and Mercedes, etc. People are well aware of fake stuff so they only buy from reputable shops. The good shops are filled with crowd and the small shops are rarely visited. Every major gold shop has an assay center so people can test the gold they buy from any place as long as they pay a few dollars.

Since people buy gold to show off, they mostly buy jewellery instead of bullion bars. I suspect that the bullion bars are purchased by the state. I doubt that people is capable of buying 2500 tons gold this year. Central bank may have gobbled up most of the gold. They created the image of aunties to hide the fact that they are switching dollars into gold. Western governments have to help them by knocking down the price so they can load up. Both sides get what they want, China get the cheap gold, west get the stable dollar.

 

Ban KKiller's picture

China has seen fiat currencies come and go...mainly go. 

What do they know?

Hayabusa's picture

Keeerist!  How many times do u have to lose money on PMs to figure it out!  Idiots!!!  You stackers dream of instant wealth while ignoring the losing trendline.  Zerohedge is heavily incetivized to push gold via this propaganda-and their sponsors are paying in fiat, not PMs.  Get a clue!

Panafrican Funktron Robot's picture

Precious metals (especially gold) are money, hence why the BIS settles accounts between CB's in gold terms.  The fiat exchange rate is important only in the sense that it sets the rate at which an individual can exchange said fiat for money.  As the value of our productive labor is still compensated largely in fiat (USD specifically), it is generally preferred that USD price to be lower, so that an individual wouldn't have to work as hard to get money.  

Anyone still exchanging their fiat for money is in no way trying to "get rich quick", they are merely trying to preserve the excess value of their productive labor. 

 

fockewulf190's picture

Might as well talk to a wall if you think that dude is going to listen. That up tick he has is a selfie.

Wahooo's picture

Debt will beat PMs in 2014, in fact will bitch-slap PMs in 2014. PMs are dead for another 50 years.

shutdown's picture

I can't. My Perth Mint bars are inside those numbered paper folders. They won't stack properly.  

thunderchief's picture

Another city where your yanki dollars won't get you layed in anymore.  Eventually, thanks to the fed, you will be left with your hand and a jar of fake vasiline.