Man buys 1.3 million yuan worth of gold in 500 separate transactions

By Stefan Van Assche, March 3, 2014

An unnamed Wuhan man bought five kilograms of gold in a local shopping mall on Saturday, at a cost of 1.38 million yuan ($224,580).

The man paid 277.3 yuan ($45) per gram of gold at a dealership in Wuhan’s Shimao Guangchang shopping center. The transaction took seven employees over an hour and a half to process with 500 separate invoices.

"We've sold millions of yuan in gold before, but rarely do we do separate invoices for more than 10 pieces at a time," a salesclerk said.

Despite the lackluster global market, consumption of the metal in China has been on the rise in the last few years.

[Image via Flickr]

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