Chinese buyers hunt for bullion after Brexit
By GCRU Gold News on Saturday, July 23 2016, 00:56 - Permalink
It has been a gold rush here in China since Brexit, and it almost looks like the phenomenon of the "Da Ma" - the term used to describe middle-aged women stockpiling gold for investment - is back once again.
As you know, China, is the world's biggest gold buyer, and has joined the hunt for the precious metal ever since the UK's referendum disrupted global markets, and boosted demand for safe haven assets.
The World Gold Council says global gold demand reached 1,200 and 90 tonnes in the first quarter of 2016. That was a 21 percent rise compared to the same period last year, making it the second largest quarter on record.