How Do You Say Gold in Chinese?
I was in China last summer for several weeks…however this not one of the words I learned. Maybe in retrospect I should have. Gold is traditional Chinese is huֳ¡ng jִ«n. If you are like my wife…you would ask …why do I need to know this? Simple answer..China is posed to be the next big buyer of Gold after India. Forget about the central bank of China… there are 1.3 billion people in China and they are experiencing a major growth of a middle class market. The Chinese are no different than us…the middle class is trying to preserve their wealth against inflation via gold. The Chinese were big buyers of zinc, copper and numerous other commodities but gold always has been a source of wealth…and will probably be…
Lets think about this another way…Gold has increased approx 34 per cent this year. More so.. this is the ninth straight year of price gains for gold. There are some calling a bubble..as well as others claiming gold will reach $3,000 because of the worldwide debt situation. Every good trend following commodity trading advisor has no opinion… but with 1.3 billion Chinese interested in gold… there could be a very good fundamental reason that gold can continue it’s ascent. It might be a good time to be in the gold jewelry business in China. The Chinese like the Indians like to protect their wealth via jewelry. There is much concern about the loose lending standards in China ( sound familiar- subprime) and gold is thought to be a bastion of safety…
Maybe it would be worth our while to learn more Chinese…
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