At least in jewellery stores in Zhengzhou. Gold jewellery is normally sold by weight--today's price was quoted at 289 yuan per gram for 22 carat (I think!) gold. Silver items (chopsticks and bowls, which aren't quite as labour-intensive) are being sold for 15 yuan per gram. That gives us a gold-silver ratio of 19.27, not allowing anything for fabrication.
Meanwhile, here is the ratio recently. We can see how often the gold-siver ratio was at its "normal historical ratio" over the last 40 years.
It happened in December, 1979, when the gold-silver ratio was 14.6. The only month in the last forty years when the price of silver was completely free from manipulation.
Silver is pretty pricy at local coin stores as well. Even in multi-kg amounts, the quoted silver price is well in excess of $40 (US) per ounce. When I asked about why the price was so much higher than the world price, it was suggested that if I knew someone willing to sell silver at that price, I should go there and buy it. Here, this is the price.
I am not sure whether or not this is a marketing issue within China, where silver has a long history of significance.
On the plus side, you can buy plenty of "silver" at local "antique" markets for a good price--often even below the world price!
Meanwhile, here is the ratio recently. We can see how often the gold-siver ratio was at its "normal historical ratio" over the last 40 years.
It happened in December, 1979, when the gold-silver ratio was 14.6. The only month in the last forty years when the price of silver was completely free from manipulation.
Silver is pretty pricy at local coin stores as well. Even in multi-kg amounts, the quoted silver price is well in excess of $40 (US) per ounce. When I asked about why the price was so much higher than the world price, it was suggested that if I knew someone willing to sell silver at that price, I should go there and buy it. Here, this is the price.
I am not sure whether or not this is a marketing issue within China, where silver has a long history of significance.
On the plus side, you can buy plenty of "silver" at local "antique" markets for a good price--often even below the world price!
I found tea below the commodity price could be easily found on line.
ReplyDeleteOn, that note, I question the commodiy market prices. Of coures in the real world there are lots of markets and differnces in teas.
Hmm, that's interesting.
ReplyDeleteI don't subscribe to the conspiracy theory that gold is being propped by China's silver lending to the US, but shortage of phyaz in China would be one expected result of that.
Interested readers can check out a recent post on this theory on the JSMineset blog.