Jane Chen / Shanghai Daily news
Investment-grade gold bullion to mark the approaching "Year of the Dog" went
on sale today in Shanghai after debuing in Beijing yesterday, the Youth Daily
reported.
Buyers can place orders at the local sales outlets of the issuer,
China Gold Coin Inc, which is the country's sole wholesaler of gold bars and
coins.
So far, sales have been satisfactory, the Shanghai-based newspaper
said, without specifying the figures.
The "Year of the Dog" bullion, which
has a mark of the animal to indicate the year according to the Chinese lunar
calendar, comes in 50, 100, 200 and 500 gram lots.
This year, 20- and
10-gram gold coins and plaques have been added, along with silver products, as a
way to cater to demand for the precious metals as New Year's gifts rather than
as for investment.
A 10-gram piece will be priced at between 1,300 (US$161)
and 1,400 yuan, reflecting the current gold price, the report said.
Joining
the annual gold rush, local jewelers, including Shanghai Lao Miao Jewelry Co
Ltd, have unveiled gold products of their own this month.
The sale has
received a warm market response, as a Lao Miao Jewelry official, cited by Youth
Daily, said "we have received more than 10 sales enquiries or bookings in the
past week".