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“In China, where gold has long been a national obsession, a mid-April record crash in global gold prices has been seen as an unprecedented buying opportunity. According to reports in China, Chinese have purchased 300 tons of gold worth more than $16 billion since the crash. Photos of crowds packing jewelry shops and emptying their shelves are now regular features in the news media.  China’s voracious appetite for gold is long-standing. At Chinese jewelry stores, the spot price for gold is always prominently displayed. Calculators and scales are never out of a customer’s reach.”

formerly http://www.bloomberg.com/news/2013-05-08/chinese-women-aren-t-taking-buffett-s-advice-on-gold.html