B_B schreef op 12 februari 2014 16:48:
Gold, bitcoins, holiday homes favored by China's 'dama' investors
Staff Reporter 2014-02-01 13:12 (GMT+8)
Last year, Chinese "damas" or stay-at-home mother investors, earned renown worldwide after they started to speculate in gold, bitcoin and in the property market, buying up houses on South Korea's Jeju Island, the Shanghai-based Xinmin Weekly reports.
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Since early 2013, damas have been investing heavily in the international financial market, shocking Wall Street at one point with heavy investments in gold. From April 12-15, 2013, as international gold prices plunged, Wall Street investors took short positions on gold, triggering a sharp drop in gold price to US$1,321 per ounce from US$1,550 per ounce. In the ten days that followed, Chinese damas emerged seemingly out of nowhere to buy 300 tonnes of gold worth more than 100 billion yuan (US$16.5 billion) and about 10% of the world's annual gold production. Investment banking giant Goldman Sachs broke rank on the short position, rewarding Chinese dama investors.
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www.wantchinatimes.com/news-subclass-...