China Goes Gold Crazy. Why Now?

Spurred by a sudden drop in prices, Asians in the last two weeks have gone on a gold-buying binge. The Indians, the world's largest net importers of the yellow metal, have been snapping it up of course, and so have the Japanese, now concerned about a falling yen and rising inflation. Hong Kong residents descended on the stores, but none have been so enthusiastic in stocking up on the commodity as Chinese from the Mainland. Mainland Chinese purchasers have been ferocious. First, they emptied stor...