Chinese Villagers Get Free Gold and Silver Bars
In honor of one locally owned business in eastern China, the company for it’s 40th anniversary game 3,000 villagers a surprise this week. The China Money Report writes that all the villagers of Changjian and Jiangsu will each get a 100 gram bar of gold and a 100 gram bar of Silver.
The gold and silver giveaway was chosen by the Changjiang village residents who are the collective owners of Jiangsu Xinchangjiang Group, the electric, metals and chemicals company.
Before the Gold arrives in the village each resident received a secretive note and a safe, which hinted that the precious metals were on their way. A few days later they were in the town square collecting their bars.
The China Daily is reporting that this is not even the first time this has happened. There has been another time where the gold bars were given away to the villagers.
The village picked a good time to invest in gold. The current market rate is now priced around 400 yuan per gram ($63.50), notes Asia One. Moreover, the price of the commodity has risen more than fivefold in the last 10 years, outperforming almost every other investment available.
The price of silver is equally high with silver prices for May delivery gaining 92.7 cents, or 3.0%, to $32.272 an ounce, ranging from $31.435 to $32.300. Silver has rallied $4.36, or 15.6%, in 2012.
Do you think it is a great way to pay a dividend to your owners to give out bars of precious metals? Or do you think cols hard cash would have done better?
