The Chinese ‘auntie’ investors behind the gold and silver frenzy

Subscribe to enjoy similar stories. Rose Tian is worried about the economy and global instability. So she does what millions of people in China do: buys gold.

This past week, the 43-year-old high-school teacher visited one of Beijing’s biggest jewelry markets to browse gold bracelets, necklaces and rings ahead of the Lunar New Year. She has purchased thousands of dollars’ worth of gold for herself and relatives over the years. China has become a driving force behind the metals mania that has captivated traders around the world.

Mom-and-pop Chinese investors such as Tian helped push gold and silver to record highs—only to be whipsawed by wild price swings in recent weeks. Chinese investors purchased roughly 432 metric tons of gold bars and coins in 2025, a 28% jump from the year before and nearly a third of global purchases in the category last year, according to the World Gold Council. Tian sees gold as the best way to protect her wealth, despite the recent volatility.

Her salary has gone down a bit in the past few years and she’s concerned about heightened geopolitical tensions around the world. “I’m still bullish because I believe gold is a great safe-haven asset," she said. Chinese households have few good options for parking their wealth.

The property market is in the doldrums, the domestic stock market can be volatile, and interest rates at banks are low. That means everyone from savvy middle-aged female investors known as “aunties" to Gen Z-ers have flocked to gold as a store of value. Gold and silver have been trading at a premium in China compared with international benchmarks, a sign of heightened demand.