Traditionally, gold was considered a safe and sure investment for Chinese.
The other day I was reading about the price of gold and how Asians were more likely to purchase gold than Westerners. That’s when I remembered a story. When I was a young girl, one of my best friends was Chinese and her mother used to teach us many things about culture and history. Being kind and generous with her time and attention we were blessed to learned much from her.
She said in the old days, the Chinese would buy gold as a form of savings. Right now I am assuming that it was because they had no banks? They would place their gold nuggets inside their padded Chinese jackets so it would be on their bodies at all times, the safest place to keep it. Even at night, they would sleep with their jackets on. Can anyone else verify this story?
Today, even if gold is traded as a commodity, Asians generally think of gold as a safe investment. It’s a cultural belief.