A 10-year-old girl from northern China began buying gold with her Lunar New Year lucky money three years ago, fearing her parents would spend it. She has since been hailed as a “genius” due to the skyrocketing prices of gold.
The girl, hailing from Langfang in Hebei province, has been using the red packets – known as lai see in Cantonese or hong bao in Mandarin – that she receives during Lunar New Year to buy gold for three consecutive years.
It is traditional in China for adults to gift children or unmarried individuals, regardless of age, lucky money wrapped in red envelopes during the Spring Festival, wishing them luck and health for the year ahead.
The girl’s mother, Bai, revealed that her daughter began investing her lucky money in gold starting in 2023, driven by the concern that her parents might spend it instead. She believes that gold is easier to preserve than cash.
Bai noted that her daughter typically receives around 4,000 yuan (US$580) each year.
When she first bought gold, the price was about 460 yuan (US$66) per gram. As of February this year, the price has surged to 1,100 yuan per gram.
Over the past year, gold prices in China have skyrocketed, reportedly increasing by around 60 per cent, with an additional surge of nearly 30 per cent in the first month of this year.
Analysts attribute this rise in gold prices to various factors, including geopolitical tensions, Donald Trump’s tariff threats, and central banks ramping up their purchases of bullion.
On January 30, gold prices experienced a dramatic plummet of more than nine per cent, marking the sharpest one-day drop since 1983. This decline prompted many Chinese individuals to flock to gold stores, eager to cash in on their investments.
Bai revealed that her daughter has already acquired around 30 grams of gold. She stated that her daughter has not sold any gold yet and plans to continue purchasing more.
On social media, the girl has garnered nicknames such as “genius,” “the blessed investor,” and “the girl who travels back in time.” Some users humorously asked Bai about her daughter’s next investment move.
In response, Bai joked: “Let me ask my daughter if she can predict the next gold rush.”
Bai admitted that her daughter is a better investor than she is and expressed regret for not having followed her daughter’s lead in buying gold when prices were more affordable.
“I can already see a future successful businesswoman in this girl,” praised an online observer.
“So smart of her to buy gold with the money. We all remember our parents using up our lucky money when we were young,” commented another. -- SOUTH CHINA MORNING POST
