05 Nov '12, 10pm

Gold rush: China jewelers go west for growth: SINGAPORE/ZHENJIANG, China (Reuters) - The smart young women and c...

Gold rush: China jewelers go west for growth: SINGAPORE/ZHENJIANG, China (Reuters) - The smart young women and c...

By Rujun Shen and Carrie Ho SINGAPORE/ZHENJIANG, China | Mon Nov 5, 2012 5:14pm EST SINGAPORE/ZHENJIANG, China (Reuters) - The smart young women and coiffured housewives browsing for rings and necklaces at a shiny new mall in a city on the Yangtze River could breathe fresh life into China's boom in gold consumption. With jeweler stores already flooding shopping districts in Beijing and Shanghai, retailers are shifting their focus to smaller cities in hope of mining a rich seam of appetite for products which make up the bulk of gold-buying in a nation eclipsing India as the No.1 consumer of the precious metal. Analysts and industry officials say that increasing wealth and spending power in less developed areas will help reinvigorate Chinese gold consumption, which is growing at a slower pace in 2012 after explosive gains in the past two years, with an economic slowdown maki...

Full article: http://www.reuters.com/article/2012/11/05/us-china-gold-j...

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