China ‘genius’ girl, 10, began buying gold 3 years ago to avoid parents spending her lucky money
On social media, many humorously asked the mother about her daughter’s next investment move
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.
