WGC, a trade group funded by the gold mining industry to promote the metal, said the Only Gold Gift Bar aimed to create a new segment in China's investment market to meet the emerging demand for giving gold as a gift....
"Gold enjoys a prestigious status with Chinese consumers due to its unique features and association with Chinese tradition. In recent years, the giving of gold as a gift has become an emerging trend," said Roland Wang, Director, General Manager at the World Gold Council in China.
There've long been "art bars," mostly silver, that have been designed for gifts. I've seen silver art bars specifically designed for birthday and Christmas presents. But I haven't seen gold art bars. Gram bars of gold are regularly hawked as gifts, but they have no special design.
It looks like the ICBC has come up with a real innovation, particularly with market support for the recipient. Regular art bars tend to go for a lower price when they're sold. It wouldn't surprise me to learn that the gift bars are also tied in with ICBC's gold accumulation accounts, although the report doesn't say if anyone can hand over the gift bar in exchange for a credit in an accumulator account.
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