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Frank Holmes on The Chinese New Year and It's Gold Love Trade

US Global Investors Inc  ( Original )
FEB 26, 2018

US Global Investors Inc CEO Frank Holmes likes to call this the Love Trade. China, the world’s largest market for gold, saw demand rise 3 percent last year and this number should continue to grow with rising GDP.

This Chinese New Year, over 390 million Chinese will travel to visit family and go on vacation. Many will also participate in customary gift exchanging. Gold is one of the most popular gifts given during the two-week celebrations with demand so great that it affects the price of gold globally.