<<Gold Retail shop ("Hengtai Datong Gold")
... Was it crowded with people, drinking tea, buying gold, or otherwise...?>>
i was the only one there, chatting with manager and two staff. the shop was fancy, inventory was secure, full, but shop had no customers, and the whole new financial district, while gleaming, was also empty - could cross 8 lanes intersection on red light without a problem and at relaxed pace.
the shop is meant to be corporate advertisement.
<<How has their business been since opening in April, get any idea on their monthly sales and whether this has been increasing each month...?>>
suspect not so much, as it took them about 30 minutes to get the credit card machine working.
also, i had visited a gold trading operation in guangzhou last week Message 24729667 , and the tens billions of unleveraged cash rmb-backed company (parent company ownes 100s of billions of assets generating utility-like cash in flow via state-mandated monopoly position in its field only manages to do 20 mil rmb of trades a day.
conclusion: the bull is still very young
<<Do they buy gold as well as sell gold? What price do they buy back at>>
buy at spot minus rmb 10/oz, and sell at spot plus rmb 10/oz, not covering cost - just advertisement.
<<Do they have expansion plans in other cities, will they put in multiple locations in Beijing?>>
they wish to gain paper trade customers, and will roll out retail shops as enthusiasm for physical redemption and trades warrant.
question: how many govts in the world encourages gold trade? |
