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 reporter visited a number of gold jewelry stores in Chengdu and learned that consumers' enthusiasm for buying has continued 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 popularThe reporter 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 reporters 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 reporter saw at the scene that each shopping guide had a waist bag, which was a red rope being braided. 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 young people who are interested in transporting beads are for their own use, and a woman told reporters that she bought a tiger the year before last and a dragon this year, hoping to leap into the dragon 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, and some consumers who have higher requirements for value preservation simply buy bean gold, gold banknotes, gold bars and gold ornaments with stronger investment attributes.
At the Luk Fook Jewellery counter, a man bought 3 pieces of bean gold and gave them 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 reporters, "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. ”
Young people have become popular to buy gold bars for jewelry There is a gold store that sells 200,000 a dayDifferent from the traditional middle-aged and elderly people buying gold, more and more young people are now paying attention to gold, and directly buying gold bars and processing them into jewelry in gold shops.
Statistics from the China Gold Association show that in 2023, the national gold consumption will be 1,089.69 tons, an increase of 8.78% compared to the same period in 2022. Among them, 706.48 tons of gold jewelry, up 7.97% year-on-year, and 299.60 tons of gold bars and coins, up 15.70% year-on-year. In addition to buying gold bars to create jewellery, the increased interest in physical gold investment has led to a faster increase in bar and coin consumption at relatively low premiums.
100g gold bars sold by a gold store in Shanghai
A staff member of a well-known brand gold store in Shanghai said that it is now the beginning of the Year of the Dragon, and the sales of gold bars printed with dragon patterns are very good, "We have different specifications of 10 grams, 20 grams, 30 grams, 50 grams and 100 grams, and the sales can reach 200,000 yuan a day." The staff member said that on February 13, the price of investment gold was 556 yuan/gram, and the price of jewelry gold was 626 yuan/gram. ”
In the gold consumption boom, some consumers will buy gold every special moment such as the Spring Festival or birthday. Some consumers also said on social media that they went directly to the bank to buy gold bars for the marriage three golds. And different brands, the price of gold is slightly different. Another well-known brand gold store in Shanghai told the Red Star News reporter that on February 13, the investment price was 512 yuan/gram, and the repurchase price of gold or jewelry was 482 yuan/gram, with a purity of 99.99%. The store is located in Shanghai's Yuyuan Mall, and the clerk has been very busy lately, with little time to answer the phone. A gold mining shop, also located in Shanghai, told Red Star News that business was very good during the Spring Festival, and it was not open for the first three days, but it will open soon. "When the gold is struck, the package is lost, and the less will be made up, and the gold can be supplemented, and the repair cost can also be made. The staff member said that now the store is playing bracelet plastic ring for 680 yuan, regardless of the number of grams. According to this price calculation, to create a bracelet of about 30 grams, if you buy the finished product at 626 yuan/gram, it will cost about 18,780 yuan, and if you build it in the gold shop plus labor costs, you can save 1,420 yuan, and if you calculate it at the purchase price of 512 yuan/gram gold bar, you can save 2,740 yuan.
Sales of dragon annuities are booming Looting, short selling, and out of stock in various placesOn the eve of the Spring Festival, the reporter learned from a number of gold stores in Beijing, Shandong and other places that the recent increase in customer flow, a dazzling array of gold jewelry in the Year of the Dragon is favored by more and more young consumers.
In a gold product sales store in Xicheng District, Beijing, the entire store was crowded, and consumers were enthusiastic about buying gold. With the arrival of the Year of the Dragon, in addition to the very hot sales of some traditional and atmospheric dragon element gold products, there are also some cute and creative dragon element gold jewelry, which are loved by young consumers.
At a gold jewellery store in Qingdao, Shandong province, some gold products related to the Year of the Dragon have even been sold out.
Some consumers said: I just saw a ring for the Year of the Dragon, and it looks very special to wear. Because the sales are so hot, the products of the Year of the Dragon zodiac have been sold out today.
Wang Jing, manager of a gold store in Qingdao City, Shandong Province: This year's Year of the Dragon investment gold bars were sold out, and there was still about a month before the Chinese New Year, and they were basically sold out.
In addition to offline, online gold sales are also very popular, according to data from Internet sales platforms, since January, the popularity of gold jewelry in the Year of the Dragon has increased by more than 500% year-on-year, and the search volume of dragon pendants has increased by more than 400% year-on-year.
The price of gold hit an all-time high Medium- to long-term performance is expected to be positiveIn 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 shopping guide described the price of gold as follows: "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)