During this period many people are off work, visit extended family, clean their homes thoroughly and surround themselves with lucky symbols for good fortune in the coming year.
In the infographic below, you’ll learn five things to know about the Chinese New Year. These facts include information about the year of the dog, how travel and honoring loved ones are a big part of the new year ritual, the importance of the moon, the prevalence of gift-giving (including gold jewelry), and other interesting parts of the yearly celebration.
Believe it or not, so much gold is bought and given as gifts during Chinese New Year that its annual effect on gold prices is known as “The Love Trade.”
Discover more about how the Chinese New Year influences gold’s annual trading patterns. Download the whitepaper “Gold’s Love Trade” today!
The SPDR Gold Trust ETF (GLD) closed at $127.96 on Friday, down $-0.42 (-0.33%). Year-to-date, GLD has gained 3.49%, versus a 2.34% rise in the benchmark S&P 500 index during the same period.
About the Author: Frank Holmes
Frank Holmes is the CEO and chief investment officer of U.S. Global Investors. Mr. Holmes purchased a controlling interest in U.S. Global Investors in 1989 and became the firm’s chief investment officer in 1999. In 2006, Mr. Holmes was selected mining fund manager of the year by the Mining Journal, and in 2011 he was named a U.S. Metals and Mining “TopGun” by Brendan Wood International. He is also the co-author of The Goldwatcher: Demystifying Gold Investing. More than 30,000 subscribers follow his weekly commentary in the award-winning Investor Alert newsletter which is read in over 180 countries.