Last week's sharp drop in the gold price has brought out the bargain-hunters. Investors in Asia have rushed into the market to top up on jewellery, coins and bars, notes Josh Noble in the Financial Times. According to Haywood Cheung, president of the Hong Kong Gold & Silver Exchange Society, there hasn't been a gold rush of this size at the exchange for over 20 years.
A Hong Kong-based jewellery giant said demand from the mainland hasn't been this strong since the late 1980s. Trading volume on the Shanghai gold exchange reached a record high early this week. In India, imminent Hindu festivals have provided a further incentive to stock up. Asian buying has persisted despite gold's 8% jump from last week's lows.
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