Boxing Day in China. What were they buying?

It's the day after  Boxing Day and last night's news was full of the craziness at the malls and shopping centres.  

While the North American consumer is rushing to spend what little savings they have left and grab that last deal from the local inventory-clearance bin on plastic Made in China trinkets or marked-down clothing, Chinese consumers are likewise scrambling to buy products.

Only, unlike in the North America, the object of China's affection is not some gizmo that will end up in the local landfill within 3-6 months. China News Network shows what it is.

Google Translated from Chinanews:

Gold price lower and lower end of the Christmas rush of people buying

Taiyuan a gold shop gold prices as low as 287 yuan / gram, people flocked buying gold jewelry. Western Christmas in China has gradually become the "Consumer Day", much of the gold market on this day after discounts, plus the price of gold hovering cheap Christmas discounts, and more gold has broken 300 yuan / gram mark.

With the recent stumble endlessly international gold prices, gold investment income in 2013 or will be achieved for the first time in 13 years is negative. As for 2014, the price of gold, most institutions are still bearish.

Publicly available data show that this year, gold prices fell more than 25%. The picture shows a gold shop in Taiyuan people flocked to buy.

(hat tip to Zero Hedge)

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