Gold, the leading commodity, has attracted investor attention by reaching a new all-time high of $2,195 per ounce. Now, young Chinese investors are deploying capital to accumulate gold beans and other gold jewelry for wealth protection.

Interestingly, these beans have become very popular among Chinese Generation Z, thanks to their accessibility with a weight of one gram each. Therefore, around $76, considering the gold price index of $2,155 per ounce.

However, each gold bean costs approximately 600 yuan, or $84.5, as reported by Bloomberg. This is primarily due to the production costs of the beans and China’s premium on the commodity in a closed market.

Furthermore, Gold Telegraph described this investment phenomenon as a “gold rush” in China, posting on X on March 15.

Is It Safe to Invest in Gold Now?

After the recent all-time high, investors may wonder whether it is still safe to invest in gold. While it is impossible to predict further gold price action, it has historically performed well under conditions of macroeconomic uncertainty such as those the world currently faces.

Specifically, gold is one of the most solid and popular investments in human history. Furthermore, the commodity is the leading asset by capitalization with over $14 trillion in market capitalization.

In this regard, these young Chinese investors accumulating gold appear to believe this is a safe long-term play. It is also noteworthy how the trend in China is directed toward actually holding gold, rather than betting on the commodity’s price movement through ETFs or other financial instruments.

In conclusion, the daily chart of the gold price in dollars per ounce shows strong momentum for the popular investment commodity. Investors worldwide should now keep an eye on potential price support at $2,075 and trade with caution.

For investors seeking alternatives, cryptocurrencies and stock markets have recently developed similarly to gold, as reported by Finbold.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.