Along with the surging international gold market, the price of gold in China has soared recently, continuously breaking historical records. However, market insiders believe the main driving force of the “gold rush” is China’s central banks’ increase in gold holdings.
Over the past month, the price of gold has continued to rise. On the morning of April 8, the price of 24-karat golden jewelry soared from 712 yuan per gram ($98.4) to 728 yuan ($100.6) within an hour, an increase of about 2.2 percent.
