Every year the Spring Festival is a hot selling period for gold jewelry, taking the meaning of adding gold to the New Year. This year's Spring Festival of the Year of the Dragon also coincided with Valentine's Day, and the "gold fever" continued to heat up, especially the sales of gold jewelry with dragon elements were booming.
On February 13, the Red Star Capital Bureau visited a number of gold jewelry stores in Chengdu and learned that consumers' enthusiasm for buying has lasted since the end of January, and some merchants can receive more than a dozen batches of consumers in one morning; the buying crowd includes middle-aged and elderly people, as well as post-90s and post-00s; some are gifts from couples, some are New Year's gifts, and some are to reward themselves for a year of hard work. Investment preservation is an important reason for consumers to choose gold jewelry, and the market generally expects that the medium and long-term gold price is still relatively optimistic.
Dragon elemental gold jewelry sales are booming
Transfer beads are the most popular
The Red Star Capital Bureau visited and found that although the gold prices of major brands are slightly different, most of them are around 625 yuan/gram. During the Spring Festival, the brand has launched preferential activities, generally 30 yuan per gram of gold, and 8-9% off the set price of jewelry, which is equivalent to the price around October last year.
According to the shopping guide of a number of gold jewelry stores, the sales of gold jewelry of the dragon element are hot, especially the transfer beads of the Year of the Dragon, which are the most popular among consumers due to their novel and fashionable shapes and relatively low prices.
Dragon Elemental Gold Jewelry
At 11 a.m. on February 13, a Chow Tai Fook (01929. HK) told the Red Star Capital Bureau that she has received four waves of customers, and many of the current hot-selling styles have to be transferred. There is a dragon boat transfer beads and fat Fulong transfer beads sell the best, consumers will generally match auspicious clouds, lucky bags or other auspicious patterns, 8% off only about 1500 yuan.
Buy the transfer beads, and the gold jewelry store will give you a red rope woven on the spot, and you need to wait for half an hour. The Red Star Capital Bureau saw at the scene that each shopping guide had a waist bag, which was a red rope being knitted. Due to the continuous arrival of new customers in the store, the shopping guide can only take time out of the busy weaving.
Most of the people who are interested in transporting beads are young people for their own use. A woman told the Red Star Capital Bureau that she bought a tiger the year before last and a dragon this year, hoping to leap forward this year. It is worth mentioning that the transfer beads are 3D hard gold technology, which are sold at a fixed price, and it is better to maintain the value of pure gold jewelry sold by gram weight. Older consumers are more likely to opt for gold pendants, bracelets, tags, etc.
Some consumers value the investment attributes of gold products
Some consumers who have higher requirements for value preservation simply buy beanie gold, gold banknotes, gold bars and gold ornaments with stronger investment attributes.
At the Lukfook Jewellery counter, Red Star Capital Bureau saw a man buy 3 bean gold pieces to give to his family, each weighing 1 gram, at a price of 556 yuan per gram according to the investment gold bar. Another gentleman bought himself a gold ornament in the shape of a gold brick, because it is hollow, the actual price is much cheaper than it looks, it is one of the best-selling categories, and a batch has been sold out.
Beanie Gold
According to Lukfook's jewellery shopping guide, compared with the gold bricks sold by banks starting from 10 grams, Doudou Gold has less purchase pressure and can meet the savings needs of investors. Many consumers buy one every month or two, which is equivalent to saving money, and there are also many pictures of saving beans and gold on the Internet.
It should be noted that the purity of some beanie gold is 99.95%, while pure gold is 99.99%. Gold banknotes and gold ornaments are sold at the price of jewelry gold. In addition, the major gold jewelry stores do not directly provide recycling business, but "introduce to the master", or replace jewelry, and the recycling price/exchange price is significantly discounted compared with the selling price.
Yi Zhou Shengsheng (00116. For example, the selling price of pure gold jewelry was 625 yuan/gram, and the exchange price was 539 yuan/gram. China Construction Bank (601939. SH) on February 13 the active accumulation price was 480.39 yuan/gram, and the redemption price was 477.99 yuan/gram.
Chow Sang Sheng, February 13 gold price
An investment manager told the Red Star Capital Bureau, "Compared with investing in gold bars and gold coins, the fineness and specifications of gold beans are not uniform, and there is a lack of endorsement from authoritative issuers." If it is for investment purposes, it is still advisable to go to the bank to buy gold bars. Even for big brands, the price of their investment gold bars is higher than that of banks. Comparatively speaking, bank gold bars have the lowest labor costs and are easier to monetize. ”
The price of gold hit an all-time high
Medium- to long-term performance is expected to be positive
In 2023, the average international gold price reached US$1,940.54 per ounce, up more than 8% year-on-year, hitting a record high, and at the end of December 2023, it once hit a high of US$2,088 per ounce. In 2023, Shanghai gold will rise by 16.79% to 480 yuan/gram. Heading into 2024, the international gold price fluctuates between $2,000 and $2,080 per ounce. Shanghai Gold's closing price fluctuated around 480 yuan/gram and closed at 480.24 yuan/gram on February 9.
A gold shop guide described the price of gold to the Red Star Capital Bureau: "It is very expensive. She said that this year, the brand's jewelry gold price is more than 600 yuan/gram, and 626 yuan/gram has been maintained for 20 days. Gold prices are at an all-time high, but "buy up, not down", and more people have been buying gold jewellery recently, "Everyone thinks that gold prices are generally rising, and buying gold to preserve its value." ”
Investment property gold products
In its latest report, UBS noted that gold and silver prices are expected to climb further in 2024 due to its expectation that the Federal Reserve will start cutting interest rates. UBS precious metals strategist Joni Teves said he expects the Fed's pivot to easing policy to push gold prices higher. In addition, this is accompanied by a weakening of the US dollar. He expects gold to hit $2,200 an ounce by the end of the year.
Factors affecting the price of gold include global economic growth expectations, real interest rate levels, central bank policies, fluctuations in the US dollar exchange rate, geopolitical risks, market liquidity, etc. The industry generally expects that there is a risk of a correction in gold prices in the short term, but the performance of gold prices in the medium and long term is still optimistic.
Red Star News reporter Wu Danruo
Edited by Yu Dongmei
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