SHANGHAI/BEIJING ¨C Gold buyers in China are getting younger, as a property market downturn, weakening stocks and currency and low bank deposit interest rates have left them with dwindling options to save for rainy days in a sputtering economy.
The trend underscores heightening uncertainty about growth prospects in the world¡¯s second-largest economy, which has not recovered from COVID-19 lockdowns as fast as consumers and job hunters had expected.
¡°The employment market has not been very good,¡± said Linda Liu, 26, who works for a pharmaceuticals company in Beijing, but worries about job stability. ¡°Buying gold makes me feel better.¡±
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.