Gold brings good luck—or at least that’s what most festivals suggest, including the upcoming Chinese New Year on January 22, 2023. It may be good ol’ folklore or maybe not, but one thing’s for sure: businesses that sell gold sure do get lucky during this time.
In 2021, China saw a massive surge in gold sales during the Chinese New Year, with consumption of gold jewellery, bars and coins witnessing over an 80% year-on-year growth. People had more money saved due to Covid and end-of-year bonuses, and affordable prices paired with local shutdowns compelled people to heavily invest in the metal.
Seeing how history might be repeating itself right now (with the state of Covid), businesses want to jump in on the potential gold boom. Indonesian mining company Aneka Tambang Tbk, or Antam, (ASX: ATM) is one of them.
The Company, specifically its gold mining arm Logam Mulia, has introduced the Chinese New Year 2023 AD/2574 Kongzili thematic gold bars with the first three-dimensional (3D) design in Indonesia. Crafted by its Precious Metals Processing and Refinery Business Unit, the design is celebrating this year’s chosen animal for the festival: the rabbit. The gold bars feature the Chinese zodiac Rabbit with the water element.
ANTAM’s Operations and Production Director, I Dewa Wirantaya, commented, “ANTAM is committed to producing high quality and innovative Precious Metals products. As a market leader, the Company strives to provide product differentiation to meet customer expectations.”
As per ANTAM’s findings, 3D gold is not a common sighting in the Asian country. So, it has gone all out, creating a design different from the Company’s previous iterations with a flat (two-dimensional) surface. The 2023 Chinese New Year gold has a contour relief surface in the shape of a rabbit. And the material—gold, the interpretation of a symbol of prosperity, warmth, happiness, prosperity, and wealth–will lift its spirits (and value) all the more.
Wirantaya added, “As a collectible item, Water Rabbit Chinese New Year gold will be a timeless and valuable product in the long term.”
Besides the aesthetics, the Company has also gone ahead and upgraded the gold with some cool new tech. The gold bars are equipped with safety features, including micro text, QR code and rainbow effects on the product surface.
Microtext is a tiny unique code imprinted on a gold surface with high accuracy. The code makes it difficult to be forged. The rainbow effect lends a special colour effect to the gold bar surface, while the QR code feature helps customers learn about other Precious Metals products.
The Company will produce the thematic Chinese New Year 2023 gold series in two categories: gold bars weighing 8 grams (featuring a smiling rabbit holding up the year) and Gold Gift Series weighing 0.5 and 1 gram (bearing hopping rabbits). There will be limited quantities up for grabs—only 2,000 of each of the items. This ensures that the overall range becomes a collectible.
The Company expects that the value of the three-dimensional Water-Rabbit gold will grow in the future. Antam seems fairly confident; it’s got all that gold after all.
Alinda is a Business Reporter for The Sentiment
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