"Buy high, sell low seems to be your view of the average chinese punter then"
Absolutely correct, in manias the sheep get shorn, and they normally sell low and that is more than likely what's going to happen here. It happened in 1987, the 1980 gold and silver mania and many property owners sold at the worst possible time after 2008.
When the chinese 'aunties' realise that financial salvation is not at hand, they'll sell their gold.
