Friday, 13th January 2006 (3941 views)

The price of gold jewellery in China is expected to rise significantly this year, with 2006 already set to be the year of the wedding.

This is because many couples in the world's most populous country decided against getting married last year, owing to an unlucky missing day according to the Chinese traditional calendar.

This led the Chinese to term 2005 the "year of the widow", and couples were therefore understandably reluctant to make their vows until it was safely over.

Gold earrings, necklaces and wedding rings could see prices rising to a 25-year high in 2006, and the World Gold Council has reported that Chinese sales of gold rose by nine per cent over the year to September 2005.

Furthermore, demand could continue to be stimulated by the fact that many aspirational Chinese couples in the world's fastest growing economy still do not own much gold.

A couple living in rural China could spend between 3,000 and 5,000 yuan on gold, with Shanghai residents spending four times this amount, according to the Brockton News.

While white gold is also increasing in popularity among those in lower income brackets, the expanding urban middle classes are proving willing to pay the full price.

 

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