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'Year of the Dog' gold bullion sale kicks-off
10/11/2005 15:56

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".