An article surfaced today in China discussing a new player in the gold market that has Wall Street running scared The new player is the Chinese housewife. This typical Chinese housewife as described in the article is between 40 to 60 years old with investable assets of between $10,000-$10 million dollars. This representative housewife in addition to her assets also has what approaches zero knowledge of investment knowledge.

The article goes on to give one example Of these “Mad hunters of Gold” whom they call Auntie Kimmy. Auntie Kimmy has purchased $2 million Yuan ($330,00 USD) worth of gold over the last year. When asked if she was disappointed by the decline in gold prices, Aunti Kimmy said, “Not at all, ..this gold is going to my children.”
It is this mentality that has Wall Street nervous. Quoted in the article is State Council Development Research Center, Institute for International Economics Visiting Researcher Zhang Jie who was quoted as saying Wall Street and the Fed should be very nervous. The business of loaning out based on gold reserves is over as once the gold arrives in China, it is never going back.