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The Chinese economy has been well publicised recently, with increased volatility due to Trump’s trade war with China. All thoughts of the economy may be temporarily adjourned though, on the 28th January, as the Chinese New Year celebrations begin.
Families traditionally gather the evening before, to eat dinner together and exchange gifts. Windows and doors are decorated with red paper-cuttings – with themes such as ‘good fortune,’ ‘happiness’, ‘wealth’, or ‘long life’.
And this year is the Year of the Fire Rooster – representing triumph and success, which can only be achieved through hard work and patience (something Donald Trump’s administration may wish to bear in mind when negotiating trade deals with the world’s second largest economy).
Gold is highly regarded as a symbol of wealth and prosperity within China and this year, we have the Gold Lunar Rooster coin for those wanting to make a special statement with a unique gift.
The Chinese relationship with gold, however, goes far beyond gifts and decoration. China is the biggest global producer of gold and, in 2016, introduced its own gold fixing at the Shanghai Gold Exchange for the first time – establishing it as one of the leading global trading platforms.
As the world’s biggest producer, they are also, naturally, one of the largest gold holders, after the US and ahead of Russia, and are one of the biggest importers of gold bars, coins and refined gold.
However, with Donald Trump’s inauguration and European elections on the horizon, the future looks more uncertain than ever, which inevitably means volatility for the markets.
Gold can offer a safe haven in such situations. So why not make 2017 the year to add protection and diversification to your portfolio, by investing in gold and silver A New Year is always the perfect time to consider a thorough financial review of your assets.
Mark Chinese Year of the Rooster in a really special way with our unique Gold Lunar Rooster Coin
Daniel Fisher formed physical Gold in 2008, after working in the financial industry for 20 years. He spent much of that time working within the new issue fixed income business at a top tier US bank. In this role, he traded a large book of fixed income securities, raised capital for some of the largest government, financial, and corporate institutions in the world and advised the leading global institutional investors. Daniel is CeFA registered and is a member of the Institute of Financial Planning.