Submitted by Tyler Durden: This is simply stunning: one company, which has two flagship products, has a bigger market cap than the entire Semiconductor space, and is just shy of the entire S&P Retail sector.
Already the world's largest producer — it overtook South Africa in 2007 — China is now bedecking itself in bling. It's on track to become the globe's largest consumer of gold as early as this year, knocking off India — whose elaborate wedding dowries kept it on top for years.
Some of China's gold is going to its central bank as the government quietly boosts reserves. But the biggest driver is Chinese consumers. They're snapping up jewelry, coins and bars as a hedge against inflation and to flaunt their rising wealth.