Hang Fung Gold Technology will post sales growth of 10 per cent to 20 per cent in the first quarter compared with the same period last year, according to chairman Lam Sai-wing. Sitting in his Hung Hom office after a special shareholders meeting yesterday, Mr Lam said mainland customers accounted for 11 per cent to 12 per cent of turnover, with each of them spending about $4,000 at the jewellery retailer compared with $2,000 last year. He attributed the rise to the ability to use yuan-denominated credit cards since last April. Mr Lam said the company would open five new shops in Hong Kong this year and would hire 300 additional staff. He said rising interest rates could prompt a temporary drop in gold prices, but gold would keep trading at between US$400 and US$500 an ounce for the remainder of the year.