Exclusive interview-Wang Lixin: Gold is a safe haven of wealth (2008-11-2810: 48: 03) Tags: Wang Lixin's financial classification of gold: the first interview with a global financial storm is roaring ... In a trance, an island looms. This is gold. Is gold really a safe haven for wealth? On September 1 1, 2008, Wang Lixin, General Manager of the Greater China Region of the World Gold Council, accepted an exclusive interview with this magazine in Jinan. Wang Lixin: Gold is a safe haven for wealth. Our reporter Ma Jun "In the famous tailor street in France, an ounce of gold can always buy an excellent fashion. In the 1970 s, you could buy a set of fashion for $35, but now I'm afraid you can only change one sleeve. " Wang Lixin told Qilu Weekly that with the emergence of financial problems such as inflation, people's attention to gold was directly stimulated, and gold ornaments also made a comeback. In times of crisis, the true color of gold is highlighted, and a financial storm is sweeping the world from the United States. First, Lehman Brothers, the fourth largest investment bank in the United States with a history of 158, announced its application for bankruptcy protection. Subsequently, Merrill Lynch broke the news that it was acquired by Bank of America, and American International Group, the largest insurance company in the United States, broke out immediately ... In just half a year, three of the top five investment banks in the United States closed down one after another. The impact of the subprime mortgage crisis far exceeded expectations, and investors' confidence suffered an unprecedented blow, while securities and securities. But at this time, gold stood out, and the international spot price of gold hit the biggest one-day increase since 1980-September 8 1 1. 12% to 864.9 US dollars/ounce, and the gold price soared by 70 US dollars/ounce in a single day, a record high in 28 years. "For a long time, gold has always existed as a hedging tool. The main risks it can avoid include the turmoil and uncertainty in financial markets and the easing of inflation expectations. With the bankruptcy of Lehman Brothers, the acquisition of Merrill Lynch and the takeover of American International Group by the US government, many safe-haven funds poured in, which led to the recent surge in gold prices. " Wang Lixin told Qilu Weekly, "We have seen the risks of the global financial crisis, and no one can give a clear answer. Therefore, both the stock market and the foreign exchange market have been questioned, and no one wants to have book wealth in this case. " Wang Lixin analyzed that with the increase of national disposable income, the demand for investment preservation has also increased accordingly. In this case, the demand for "gold" has greatly increased. At the same time, since last year, the price trend of domestic consumer goods has become more prominent, and inflation has become more prominent, which makes people feel uneasy about whether the money in their pockets depreciates like today. When consumers think that the RMB is "hairy", if the dollar is strong, people may buy dollars to preserve their value; However, with the economic downturn in the United States, the dollar has been depreciating, and it is generally believed that it is no longer safe to hold the dollar. At this time, the "true color of gold" was revealed, and people began to buy gold to preserve their value. From this perspective, the folk rumors of "hiding gold in troubled times" are reasonable. In fact, this has been confirmed again in Vietnam a few months ago. In the second quarter of this year, Vietnamese investors' investment demand for gold soared by 55% year-on-year. If other factors are added, the proportion of total demand for gold still rises by 4 1%. In China, this data is even more obvious, and its investment demand has increased by as much as 125% ... However, gold has become the only consolation in the financial turmoil, and it seems that things are not that simple. Wang Lixin believes that gold, which was lifted high by the financial turmoil, is now facing an increasing possibility of the global Great Depression under the subprime mortgage crisis. Low consumption and commodity bear market caused by economic recession are pulling down gold. As a result, gold, which has three functions of consumption, value preservation and speculation, has now become a contradiction in the complex shock wave triggered by the financial crisis. At the same time, it is subjected to multiple pulling forces from opposite directions, and the ever-changing ups and downs between these forces have drawn an unpredictable golden curve ... However, the reality that gold exists as a hedging tool cannot be concealed anyway. Gold jewelry will come back. "I don't want to spend money on a gold necklace. If my boyfriend proposes with a gold ring, I am afraid I will faint on the spot. " Wang Lixin heard the feedback from this magazine on the investigation of gold jewelry. "I understand this straightforward evaluation." On September 1 1, 2008, Wang Lixin was invited to Jinan to participate in the 2008 "Gold-only Pure Gold Boutique"-"Let Love Bind" gold jewelry new product listing promotion conference. In an exclusive interview with Qilu Weekly, Wang Lixin said that, in fact, not only in China, but also all over the world, many young people now regard gold jewelry as outdated jewelry "only for conservative women". However, he has his own understanding. "If gold ornaments can be as fashionable and personalized as all the clothes and accessories around them, and there are many brands and a wide range of choices, their impression of gold ornaments will change greatly, so this requires creative design that keeps up with fashion trends." 1995, Wang Lixin joined the World Gold Council. 1 1 years later, he became the general manager of the greater China region of the association, and was fully responsible for the reform and opening-up plan of China gold market and the promotion activities of Huang Kim Jae Jung. In fact, in China, people's initial understanding of jewelry is gold jewelry. However, for a long time, the outdated jewelry style and the reality of selling by the gram made gold jewelry fall behind in the confrontation with diamonds and platinum. "This is because the design of gold jewelry is out of date. Even if there are a few beautiful new ornaments, most of them are submerged in other unchanging gold ornaments. " Wang Lixin also believes that the design level of gold jewelry has not been well improved because enterprises in this industry are unwilling to invest in improving the design level, and merchants have not bought some goods with better design and expensive prices. The same is true of the consumption habits formed in the past. Most people buy gold ornaments to show their dignity and wealth. Just choose gold ornaments that are heavy enough and thick enough. In recent years, with the emergence of financial problems such as inflation, people's attention to gold jewelry has been directly stimulated, and gold jewelry that has been silent for several times has made a comeback. In fact, due to the increasingly rational consumption of jewelry by citizens, with the improvement of technology, gold jewelry is more fashionable in appearance than before, attracting a considerable number of customers; Secondly, compared with platinum and diamonds, gold has a lower unit price and is more easily accepted by consumers. In addition, the price of gold has been rising all the way in recent years, and some citizens also have the idea of buying gold to preserve their value. Wang Lixin told Qilu Weekly that the most traditional understanding of gold by ordinary people is that it represents wealth. In fact, gold contains four values: one is purity; The second is the symbol of wealth and security; Third, warm and eternal emotional expression; Fourth, positive and optimistic spirit. Then at these levels, gold covers a wealth of values and emotions. It is on this basis that the World Gold Council promotes the concept of gold, which is closely related to the global promotion strategy of the World Gold Council to return to the traditional value of gold. In September 1 1, Wang Lixin told the story of "only gold is pure gold"-"Let love be boundless" in Jinan. "We have always been committed to bringing new gold ornaments to consumers in China. This year, we will publicize and promote the beauty and unique value of gold through the MV "Endless Love" with a brand-new market strategy, which I believe will cater to the current consumption trend in the market. " Wang Lixin said, "It is foreseeable that' Let Love Boundless' will definitely guide this year's gold fashion and consumption boom!" Gold investment cannot be "radical". Is gold really a life-saving straw for maintaining and increasing value? In almost every gold promotion activity, Wang Lixin, the general manager of the Greater China Region of the World Gold Council, is always entangled in similar problems. He always takes pains to emphasize that the concept of "speculating gold" is misleading to investors. The biggest advantage of gold lies in its robustness and value preservation function. According to Wang Lixin, in the 1970s, with the collapse of the Bretton Woods system, the function of gold as an official currency was cancelled, and then it continued to exist as a financial product. After 1949, the China government implemented a strict management system of unified purchase and distribution of gold, and gold became an important part of the country's foreign exchange reserves. Gold is regarded as a special financial product and is not allowed to be owned by individuals. After 33 years, ordinary people were allowed to legally hold gold jewelry. For a time, gold rings and necklaces became the only choice for everyone to show off their wealth. The concepts of investability and value preservation have not yet formed in people's minds. In other words, the domestic gold investment market has been zero for nearly 50 years after the founding of the People's Republic of China. It was not until 2002 that the Shanghai Gold Exchange was established that a real gold raw material, supply and marketing bank and China Banking Regulatory Commission officially approved the opening of gold investment business to individuals. Since then, the real personal gold investment market has really appeared in China. "The World Gold Council has witnessed the opening of the entire gold market since 1994 entered China." Wang Lixin said, "After 2005, with the opening of the gold investment market, the financial attributes of gold once again appeared. Therefore, it can be said that the dual attributes of consumer goods and investment goods of gold have finally been fully demonstrated, and people can choose according to their own needs. " "Now, what we need to solve most urgently is the wrong idea of investors. What kind of mentality should I invest in gold? Buffett has a famous saying:' investment rule one, try to avoid risks and keep the principal; Second, try to avoid risks and keep the principal; Third, keep in mind the first and second rules. "When your cost of 100 yuan is lost to 50 yuan, you need to redouble your efforts if you want to make it back. On this basis, Wang Lixin emphasized that even in the gold investment market, we do not encourage this "radical" approach. I just want to emphasize that gold is a very stable financial tool, which is suitable for diversifying investors' investment risks. In general, it is reasonable to invest at least 5% to 65,438+00% of personal assets in gold. However, in view of the high risk in China's financial market, it is not an exaggeration to expand the investment ratio of gold to 10% to 15% of family property. "