Hong Kong's Gold Rush: Residents Cash in Amid Record Highs

Hong Kong has witnessed a gold rush like never before as residents flock to sell their precious metal holdings, capitalizing on a historic rally that pushed prices above $4,000 an ounce for the first time.

Among those cashing in is Theres Lam, a lawyer, who after two decades, decided to sell part of her gold collection, reaping significant profits and betting on future price increases.

Meanwhile, gold markets in Shanghai report a balance tilt towards buying, with many trading in older pieces for newer designs. Demand is so intense at some shops that they're imposing quotas and advising eager sellers to return the next day.

(With inputs from agencies.)