By Cannix Yau

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Hongkongers are rushing to gold stores to buy and sell the precious metal, which has surged by nearly 50 per cent this year to record high prices.
Analysts suggest that many investors are seeking a trusted asset to guard against currency devaluation amid global uncertainties.
At Lee Cheong Gold Dealers in Sheung Wan on Friday, a steady stream of customers entered the store to trade gold and other precious metals.
Many of them told the Post they wanted to diversify their asset portfolio and counter currency depreciation.
Among them was a saleswoman in her thirties, surnamed Kwok, who bought one tael of gold (37.51 grams or 1.32 ounces) for the first time with two friends.
She viewed the purchase as a long-term investment for her 18-month-old son.
“As gold prices continue to climb, I believe this will be a good investment for my child to counter depreciation. I will continue to buy it as long-term savings for him,” she said.
Ms Wong, in her forties, also visited the store to buy 100 grams of gold.
She began purchasing gold two years ago due to low bank savings interest rates.
“I stock up on gold regularly whenever I have money, as I noticed that prices began rising two years ago. It’s a proven hedge against inflation,” she said.
Conversely, some people took the opportunity to cash in on their gold as prices surged.
Amy Chan, 40, came to sell 1.5kg of gold that was part of her dowry 10 years ago.
She aimed to take advantage of the price, which had more than doubled from its original value of HK$15,000 (US$1,927) per gram.

“I’ve been waiting all these years to sell all my gold, but the prices weren’t favourable until now,” she said.
Gold prices have soared by more than 48 per cent this year in the global market, reaching a record high of US$4,060 per ounce last week.
This followed a 26 per cent increase last year, marking the largest annual gain in 14 years.
Factors contributing to its latest surge include an interest rate cut in September, heightened geopolitical tensions and uncertainty surrounding the United States dollar, prompting investors and central banks to seek gold as a safe haven.
In Hong Kong, gold prices have risen in parallel with international markets, hitting HK$35,850 per tael for 999.9 gold at jewellery retailer Chow Tai Fook on Friday.
JPMorgan anticipates the rally in gold will continue, projecting prices of US$4,050 to US$4,150 per ounce by mid-next year.
Gary Ng Cheuk-yan, a senior economist at Natixis Corporate & Investment Bank, said gold prices would remain high due to persistent geopolitical risks.
“Today, the world faces many uncertainties with stocks being highly volatile. People who invest in gold can diversify their portfolios and counter currency depreciation,” he said.
Samuel Tse Ka-hei, an economist at DBS Bank Hong Kong, echoed the sentiment.
He said rising geopolitical tensions and the global trade war had led to increased investments in gold as a safe haven asset.
During mainland China’s eight-day National Day “golden week” holiday, Hong Kong’s jewellers reported that gold was one of the most popular purchases among tourists from across the border, with retailers experiencing business growth of up to 20 per cent during the break.