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China: Silver shines on as safe haven investment in China
[Voiceover] With the price of silver steadily increasing, people in China are spending on the precious metal as another safe-haven asset. The London spot price of silver recently exceeded $39 U.S. dollars per ounce, a near 13-year high, prompting an increase in sales of all silver-related products, from ingots to jewelry. The manager of one silver jewelry wholesaler in Shanghai said they ship 10,000 pieces per month with many younger clients choosing silver pieces that incorporate jade or crystals. [Soundbite] Chen Yun, general manager, jewelry company: "Young people love neo-Chinese-style products like necklaces and bracelets. We’re focusing more on traditional-style diamond inlays. We also offer an expanded range of materials, including crystal, Hetian jade, and agate." [Restrictions: No access Chinese mainland]
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