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China Daily Website

Gold glitters for many

Updated: 2013-04-24 15:21

Beijing Caishikou Department Store, a leading gold store in the city, said its daily sales reached 100 million yuan ($16.19 million) for the seventh straight day.

Small jewelry items, such as gold earrings, have been sold out, but most buyers were interested in investment items, such as gold bars. The store said sales of gold for investment doubled recently.

Caishikou attributed its brisker business to the falling price of the metal.

Gold futures for April delivery fell 9.4 percent, the biggest one-day drop in 30 years, to a two-year low at $1,360.6 per ounce on the Comex division of the New York Mercantile Exchange.

Gold investment products were selling for 274 yuan per gram, and gold jewelry 378 yuan per gram at the store on Wednesday.