Source: Photo.com
On December 22, according to the Chao News reporter, the gold consumption above 615 yuan/gram is still high, approaching New Year's Day and the Spring Festival, and it is setting off a wave of small climaxes again.
According to the owner of a post-80s gold store in Hangzhou International Jewelry City, Christmas, New Year's Day, and Spring Festival will definitely be very busy this order fair. The owner of the gold store said that he has been engaged in jewelry wholesale for many years, and has been very busy since the beginning of this year, "in 2013 to grab gold, after ten years, this year to grab gold, at the beginning of the epidemic to let go, everyone suddenly retaliated to buy gold, I prepared the goods in short supply, the goods of the upstream gold processing factory were robbed, the factory 24 hours even the shaft can not be shipped, I have specially flown to the factory in Shenzhen to star, please boss to ship to me." ”
Talking about this year's gold business, the owner of the gold shop said that despite the rising gold price, everyone's enthusiasm for gold consumption has also continued to rise, from the beginning of the year to the present, the gold price has risen by more than 100 yuan / gram, and his gold wholesale growth rate has remained above 30% throughout the year.
According to Chao News, gold prices have repeatedly broken records this year, especially on December 4, the international gold price once again broke the record in May this year and hit a record high, the domestic gold price also set a new record, and the Shanghai Futures Exchange gold futures price hit a new high in the past ten years.
Consumption: Gold consumption demand fluctuates
From the perspective of mainland gold consumption demand, the consumption of gold in mainland China fluctuated from 2017 to 2022. In 2018, the country's gold consumption peaked at 1,151.43 tons; Affected by the epidemic in 2020, the annual gold consumption demand fell to 821 tons, the lowest value in recent years. In 2021, it surged by 36.5% year-on-year to 1,121 tons; In 2022, mainland gold consumption fell again to 1,001.74 tonnes; In the first three quarters of 2023, a total of 835.07 tonnes of gold was consumed.
Demand structure: Gold jewellery accounts for the highest proportion
According to the China Gold Association, gold jewellery is the largest consumer market for gold, with gold consumption in the first three quarters of 2023 being 552.04 tonnes, accounting for 66.11%; Gold consumption in the bar and coin segment was 222.37t, accounting for 26.63%; Gold consumption in the industrial and other sectors was 60.66t, accounting for 7.26%.
Li Bo, assistant dean of the School of Finance of Anhui University of Finance and Economics, reminded consumers that they need to pay attention to the purity when buying gold and silver jewelry, the higher the purity is the investment value, and the lower the purity investment value is relatively weak, so it is more cost-effective to buy the highest purity gold bars directly, and the processing fee is relatively small.
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