Gold gift at New Year.

Sales of gold bars reached their peak during the Chinese New Year, with investment-standard gold bars and Lunar New Year commemorative bars of different specifications rushed onto the market.

"Many consumers enquired about investment in gold bars since October last year and exquisitely crafted Lunar New Year gold bars are selling particularly well with the approach of the Spring Festival," said a salesman at a shopping centre in Hangzhou. "Some Lunar New Year gold bars were even sold out," he added.

The Hangzhou flagship Tai Heng Gold store specialises in gold on the city's Moganshan Road. Investment in gold bars have been selling well since the store's inauguration in mid-December 2008.

Sales staff said the store sold more than 10 gold bars on its best day. Collectible investment gold bars with troy ounces as units (1 troy ounce = 31.1035 gm) each have their own unique serial numbers, with those bearing numbers ending in "6" and "8" selling out long ago.

Year of the Ox gold bars also came in a variety of specifications. The store was well-stocked with Lunar New Year gold bars with the five motifs of "Child's Cow", "God Helps Those Who Help Themselves", "Peace and Prosperity", "Golden Ox Brings Happiness" and "Happiness for the Whole Family", each catering to the tastes and preferences of different investors.

Buyers had to place their orders in advance because these were such in-demand items as the Chinese New Year approached.

Gold bars suitable for investment

Many companies designed and launched special gold bars catering to the tastes of different consumers. For example, a nuptial gold bar specially launched by Tai Heng Gold is sought out by young lovers for its profound meaning and fine craftsmanship.

"Although the making of this type of gold bar requires relatively complicated techniques, it is a type with repurchase guarantee like ordinary gold bars and Lunar New Year gold bars, except perhaps it is slightly more expensive," said Chen Leiming, Tai Heng Gold's Gold Analyst.

"We would advise ordinary investors to buy ordinary gold bars unless they have special requirements, because these are most suitable for investment," Chen added.

For gold jewellery, the price is substantially higher because motif, manufacturing techniques, themes and other factors must be taken into consideration, in addition to the price of the gold itself.

from Cathy Ji, Hangzhou Office