Young people don’t have much spare cash. The youth-unemployment rate in cities is about 15%. Many companies are cutting salaries. So youngsters are hoping to make the most of what little savings they have. But traditional investments aren’t doing well. The stockmarket is slumping and house prices have fallen for ten months in a row. China’s gold market, which accounts for about a fifth of global sales, used to attract an older crowd. These days Chinese gold shops regularly serve customers in their 20s. Is global market going down ?

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