2016-01-15

CNYXAU for 2016

Reuters: Giving up on stocks: China's retail investors seek safety first
"Except for gold, all other assets are just bubbles to me," said a 24-year-old female investor in Beijing. "I guess I am a pessimist. If there are really some global conflicts, even dollars and bonds could not buy a meal."

In just seven trading days at the start of this year, assets under management at HuaAn Gold ETF, China's biggest gold ETF, jumped 8 percent, after doubling during the previous six months.

"We notice a rise in gold investment whenever there's concern over yuan depreciation," said Richard Xu, the fund's manager. "Buying gold also helps investors avoid risks in equities. It serves double purposes."
Bonds and USD are also catching a bid...

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