Gold prices pull back, jewelry priced per gram becomes a new consumer trend! Reporter investigates→

　　As summer arrives, the Shuibei gold and jewelry market in Shenzhen has seen a significant revival in popularity. As the largest distribution center for gold and jewelry in the country, it has recently welcomed many visitors from other regions, with streams of customers constantly inquiring about prices and trying on jewelry.

　　The business data of leading enterprises also confirms this consumption trend. Recently, several gold and jewelry companies have released financial reports. For example, Chow Tai Fook mentioned in its latest unaudited business data for the quarter (April 1 – June 30, 2026) that the retreat in gold prices has stimulated demand for priced gold jewelry, driving a 21% growth in retail value.

　　The latest report released by the World Gold Council shows that in the second quarter of this year, total gold demand in the Chinese market (including gold jewelry, gold bars, gold ETFs, and industrial gold) reached 155 tons, a year-on-year decline of 41%, marking the weakest second quarter performance since 2022. Of this, demand for gold jewelry and outflows from gold ETFs were the main factors behind the year-on-year drop in demand. High and volatile gold prices have further dampened demand for gold jewelry purchases. Many consumers have postponed buying decisions or opted for exchanges of old jewelry for new, a trend that is gradually heating up, leading to a decline in new consumption. At the same time, quasi-investment demand continues to shift toward gold bars, coins, and other products, while the extra VAT burden has also weakened gold jewelry's appeal to investment-oriented buyers.

Editor: Zhu Henan