China’s young people are rushing to buy gold
They seek security in troubled times
CHINA’S GOLD market, which accounts for about a fifth of global sales, used to attract an older crowd. Many buyers were middle-aged women looking to add to their nest-eggs or buy chunky bracelets. But these days Chinese gold shops regularly serve customers in their 20s. Xiaohongshu, a social-media site favoured by “Generation Z” (those born between 1997 and 2012), is buzzing with talk of the precious metal.
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This article appeared in the China section of the print edition under the headline “Bean counting”
From the April 27th 2024 edition
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