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Thursday, 15th February 2007 (5299 views)

This year is that of the golden pig according to Chinese legend and it only occurs about once every 60 years.

With that in mind it seems this year's special significance in Asia will have a small positive effect on demand mainly in terms of the demand for commemorative products. These are mainly made of 24 carat gold and jewellers in the region are already stocking up on them.

The pig is also important as a symbol of wealth and prosperity in China so on a larger scale this year will hopefully increase the attractiveness of the precious metal.

James Burton, chief executive of the World Gold Council, said: "It will hopefully have a rub-off effect and further improve the desirability and relevance of gold as a product category in China, which has been growing steadily for the past few years."

Gold is also virtually indestructible which makes it a very precious material. Practically all of the gold that has ever been mined still exists which means that gold isn't just another commodity – but a very special one.

 

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