China's annual lunar gold bullion series has been issued continuously since 1981, making it one of the longest-running official precious metal programs of any central bank. The kilogram format, introduced as the flagship denomination of the series, commands particular attention from institutional collectors in mainland China and Hong Kong, where gifting large-format gold around the lunar new year carries deep conventional weight.
The Horse cycle last fell in 2014, when the kilogram issue saw strong secondary market premiums driven by domestic demand outpacing allocated supply.
China's annual lunar gold bullion series has been issued continuously since 1981, making it one of the longest-running official precious metal programs of any central bank. The kilogram format, introduced as the flagship denomination of the series, commands particular attention from institutional collectors in mainland China and Hong Kong, where gifting large-format gold around the lunar new year carries deep conventional weight.
The Horse cycle last fell in 2014, when the kilogram issue saw strong secondary market premiums driven by domestic demand outpacing allocated supply.