17 September 2019

Beijing saw a gold rush on January 1, paper says

Beijing’s Caishikou Department Store, popularly known as Caibai, sold 10 million yuan (US$1.65 million) worth of gold products during the first hour of store operation on Wednesday, the first day of the new year, Beijing News reported Thursday, citing sources from the department store. A fall in gold prices last year has led to higher sales, the paper quoted analysts as saying. The precious metal’s price slid about 26 percent in 2013 to stand at 302 yuan per gram, the report said.

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