Group-buying sites entering gold market

SHANGHAI - The gold bugs who are now flocking to special websites to buy the glittering metal at supposedly discount prices may be subjecting themselves to risks, warn investment advisers and lawyers.

In the past few months, the price of gold has increased in both domestic and international markets, going from 300 yuan ($47) a gram in March to about 340 yuan a gram now. That, in turn, has led investors in Shanghai and other large cities to hoard the precious metal.

Most investors buy gold bars from banks, jewelry shops and gold traders.