Jewelry gold prices hit record highs, approaching 720 yuan per gram
The international gold price has been on a steady rise since March, hitting record highs and experiencing an increase of more than 14%. This surge has also been reflected in domestic gold prices, with the gram price of many brands of pure gold jewelry reaching unprecedented levels. On April 3rd, the prices of pure gold jewelry from popular brands such as Chow Tai Fook and Chow Sang Sang exceeded 700 yuan per gram for the first time, with today’s update inching closer to 720 yuan per gram.
A reporter visited SM City Plaza and found that the retail prices of pure gold jewelry have been soaring. With the price of gold increasing daily, the cost of a 30-gram gold bracelet has risen by five to six thousand yuan compared to the same period last year. The mentality of consumers has also varied, with some adopting a “buy more as it goes up” approach, while others are adopting a more cautious wait-and-see strategy.
Jewelry store manager Wang Fengqin highlighted that despite the rising gold prices, they have not increased their prices, resulting in better craftsmanship and more refined styles. However, popular gold recycling merchants are witnessing a surge in transactions, with the recycling volume increasing by 30% to 50% compared to last month.
To ensure the safety of transactions, gold recycling merchants are reminding customers to keep records of transactions and select merchants with formal qualifications for real-name transactions. Xu Jian, the person in charge of a gold recycling store, emphasized the importance of recording and photographing items before mailing them for recycling.
As the gold prices continue to soar, the “threshold” for gold investment and consumption has increased. Financial institutions have also raised the minimum purchase amount of gold-related investment products. Analysts predict that the trend of rising gold prices is expected to continue due to international factors, urging investors to diversify their investments, invest prudently, and be cautious of short-term market fluctuation risks.