1. Wang Siying, Cindy 2008801369

2.  Usage ◦ Historically:  medium of transaction  jewelry  a relative standard for currency equivalents specific to economic regions or countries ◦ Investment:  hedge or safe haven against wars, economic depressions, and currency-based crises  way of storing of value  speculation

3.  Coins and small bars  Exchange-traded gold (SEHK, SHFE)  Gold certificates  Gold orientated funds

4.  Stability: During the last financial crisis we have recently experienced, the price of gold from the top to the bottom reduced 20%, ranking the least decreasing rate among the entire investment products  Information: More complicated for stocks. Have to concern the performance of the companies you invest in. Have to think about the facticity of their financial statement and other market information.  Market efficiency: Investors of gold market are more decentralized and international. It is harder for a single individual to control the gold price.

6.  Demand and supply  USD: negatively related. ◦ Both are reserve assets ◦ Relationships with world economy. ◦ Gold measured in terms of USD  Worries of inflation (Oil price)  International policies (especially USA and countries product oil): wars and unrests

7.  China’s gold market ◦ More influence on world gold market  Inflation  Bull market for USD  USA fourth quarter GDP in 2009  Increase of interest rate

9.  http://goldprice.cn/gold-price-history.html http://goldprice.cn/gold-price-history.html  http://huangjintouzi.blog.163.com/blog/stat ic/86009020101131822582/ http://huangjintouzi.blog.163.com/blog/stat ic/86009020101131822582/  http://www.chinavalue.net/Media/Article.asp x?ArticleID=47365 http://www.chinavalue.net/Media/Article.asp x?ArticleID=47365  http://goldnews.bullionvault.com/china_gold _rush_123120091 http://goldnews.bullionvault.com/china_gold _rush_123120091  http://www.invest.gold.org/sites/zh/how_to_ invest/gold_orientated_funds/ http://www.invest.gold.org/sites/zh/how_to_ invest/gold_orientated_funds/