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【双语财讯】财富保值成首要目标 黄金或将吸引更多高净值人群 Gold gains traction among country's investment options

中国日报网 2023-12-18 16:40




A customer admires gold jewelry at a boutique in Huzhou, Zhejiang province, on Dec 4. NI LIFANG/FOR CHINA DAILY


Gold holdings will increase among Chinese high net-worth individuals next year as uncertainties loom in capital markets, experts said, as wealth preservation and security top their asset management priorities.



According to a report released by the World Gold Council earlier this month, among the Chinese affluent, wealth preservation and security exceeded in importance to increasing the value of their wealth.



This is based on a survey of 218 wealthy Chinese with an average personal investable asset of 6 million yuan ($837,670), aged over 40 and with a minimum investment experience of two years.



According to the survey, the majority — 90 percent — have either invested or expressed willingness to invest in the yellow metal, said the report.



Jia Shuchang, a senior analyst from the WGC, said stability is currently the major wealth management purpose, and this has intensified after the COVID-19 pandemic.



The stress on security is reflected by their investment choices.



While cash and savings crowned the list of asset management choices, onshore insurance came in second, followed by A shares and investable properties.



Gold is the fifth most popular asset management option at present, according to the WGC report.



"As a globally accepted asset, gold's advantages in higher liquidity and risk diversification have increased its appeal to the rich group," said Jia.



Uncertainties will abound in the capital markets next year, including tightening liquidity, geopolitical conflicts and an increasingly noticeable trend of de-globalization.



Making investment portfolios more defensive will be especially important against this backdrop, he added.



The WGC said gold prices surged nearly 10 percent in 2022 at a time when the benchmark Shanghai Composite Index slid over 15 percent and the renminbi depreciated more than 8 percent.



The bullish performance continued this year, with prices of yuan-denominated gold spiking over 16 percent during the first 10 months of 2023 despite soaring interest rates and aggravated systemic financial risks worldwide.



Both spot and futures prices of the precious metal crossed the $2,100 mark on Dec 4 to hit new highs.



Allocating 6 to 10 percent of their investable assets to gold, the rich group usually considers gold as a long-term investment target, holding it for six to 10 years, according to the WGC.

根据中国黄金协会的报告,高净值人群整体倾向于长期持有黄金,以 6-10 年为主;黄金配置比例为其可投资金融资产的6%-10%。


Physical gold, especially 100-gram and 20-gram gold bars, is especially favored by affluent Chinese, as these are easy to carry and can be converted to cash more quickly.



According to the WGC, demand for gold bars and coins in China surged to 82 metric tons in the third quarter despite soaring gold prices, representing the strongest third-quarter performance since 2018.



In the first nine months, China's demand for gold bars and coins reached 197 tons, up 26 percent year-on-year, said the WGC.



Meanwhile, China's total demand for gold jewelry reached 481 tons in the first three quarters, up 8 percent on a yearly basis.





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