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Monkey Year gold bar to hit local market next week
( 2003-12-03 10:54) (eastday.com)

The gold bars to celebrate the coming new year, or the Chinese Year of Monkey, will hit the market in Shanghai next week, a week behind the schedule, today's Shanghai Morning Post said.

Local supply, as well as those to other provinces, has been delayed to increase the supply in Beijing, where a gold rush has been roused for the memorial metal products, the report said, citing officials with Shanghai Gold Coin Investment Co Ltd, supplier of the gold bars.

As a result, the local supply, scheduled to begin early this week, will probable arrive late this week and the products will go on the shelves from next week, according to the officials.

Expecting Beijing's hot market reactions to be copied in Shanghai, the officials are quite confident about the local market. They didn't rule out the possibility that some people would maliciously rush to buy the gold bars for investment purposes. To prevent from this situation, the officials said their company has required the gold bar producer to increase the supply.

Investment experts ask people to remain cautious about gold investment and warn against huge purchase in a lump sum. They advise to buy the gold bars on separate days to lower the costs as gold price keeps changing.

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