Cover News Reporter Zhu Ning Photo Report
Since April, the international gold price has continued to rise, breaking through record highs. On April 8, the international and domestic gold prices rose, the international gold price refreshed a record high, and the price of pure gold jewelry in domestic gold stores also remained at a high level, and the price of pure gold jewelry in some gold stores has approached 730 yuan per gram. At the same time, the trend of domestic precious metal futures is also very strong. The main contract of Shanghai gold rose above 560 yuan/gram in intraday trading today, up more than 2%, and continued to brush a record high. With the rise in gold prices, the "gold selling fever" has also attracted widespread attention from the society, and it has also made #Gold Hoarders busy cashing in gold# on Weibo hot search.
Shanghai gold trend
On April 8, the reporter visited several brand jewelry gold stores and gold recycling stores in Chengdu and found that there is a difference in the price of gold recycling, and the current gold recycling price is mostly between 530 yuan per gram and 545 yuan per gram.
Gold prices hit new highs
Gold recycling business is on the rise
Gold investment has long been seen as a relatively stable way to grow wealth. The huge fluctuations in gold prices have also driven the volume and price of gold recycling to rise. In terms of gold recycling channels, it mainly includes branded gold stores, some commercial banks, gold recycling stores, online platforms, pawn shops, etc.
"Recently, gold recycling is still a bit 'fierce', and basically I can receive some investment gold bars every day. In a gold recycling gold shop in Jinjiang District, Chengdu, the boss told reporters that since the Chinese New Year, the number of people who inquire about the price of gold recycling and sell investment gold bars has begun to rise, especially after the end of March.
"In the past, the recycling was basically based on investment gold bars or investment ingots, and a few were some gold jewelry that had been used for a long time, but recently I received some well-preserved gold jewelry. The staff of the gold store said: "Generally speaking, few people sell gold jewelry with better quality, but yesterday I received six or seven pieces of gold jewelry from a lady, who asked several gold recycling stores with gold, and finally sold all the gold jewelry in her hand." ”
"After this round of price increases, the number of inquiries and recycling has increased significantly, and many investors want to take advantage of the high gold price to liquidate. When the reporter visited and communicated with the business staff of the recycling gold store, the staff said that the recent changes in gold prices are indeed huge, generally speaking, gold bars are used as a relatively stable part of asset allocation, and it is rare to see the recent gold recycling boom for more than ten years.
Recycled gold jewelry
Gold recycling business increased
Customers need to be aware of the gold "quality" trap
"I'm here today to see where it's more reliable to recycle, and then ask about the price to see where to sell it. When the reporter visited the gold recycling store, a customer was also asking about the price and the recycling process.
"In fact, when the price of gold came out of the rising market recently, I, a person who did not understand financial knowledge, also began to read gold futures and other content, and I wanted to calculate how much money I made from buying gold before. The customer told reporters that as early as the end of the previous year, when the price of gold was relatively low, he bought a part of the gold bars, which could be used for marriage on the one hand, and also had the idea of investment on the other hand.
"I didn't think so much about buying it at that time, I just wanted to buy gold and save money, and I didn't think it would rise much until I heard my friends talk about the rise in gold prices during the Chinese New Year this year, so I began to pay attention. The customer said that in February this year, he had sold some gold and made a lot of profits, but in the process of trading, there was a dispute over the quality of gold, which made the transaction not very smooth.
The reporter noticed that whether it is a gold jewelry store or a store specializing in gold recycling, consumers need to come to the store to test the purity on the spot, but in the inquiry stage, the brand gold jewelry store will emphasize the price difference of different quality gold, and the gold recycling store is often simpler in this regard.
During the visit, some staff of the jewelry gold store reminded the reporter that in the recycling process, price is one thing, and safety also needs to be considered. During the visit, the reporter also found that some individuals or stores that recycled gold did have false prices, or blurred the recycling process and verified the quality of gold.
In this regard, a lawyer said that consumers should ensure that they choose a formal and qualified gold recycler to avoid fraud, understand the market situation, obtain information by checking the price of gold, consulting professionals or checking relevant websites, keep the purchase bill or weigh it at home to determine the gram and fineness of the gold, so as to prevent the price from being depressed or deducted from the weight, if the merchant's quotation is abnormally high, they should be wary of their possible behavior of pressing the fineness and deducting the weight.
Gold Recycling Shop
There are many influencing factors
Gold prices are likely to remain strong
"The current market environment is indeed very hot, but from the perspective of asset allocation and investment, I am still willing to maintain a certain gold position. "Some precious metals professional investors told reporters that from the impact of gold prices, the weak U.S. economic data and the remarks of Federal Reserve officials after the year have strengthened the market's expectations for the Fed to cut interest rates;
The reporter learned that the professional investor chose to make a certain profit-taking of the gold products in his hands at the beginning of this year, but most of the gold products are still held. "My current position in gold products is about 60% of the peak, when I allocate gold products, I will not simply pay attention to the price trend, but pay more attention to the overall trend of the asset, when the gold trend and expectations have not changed fundamentally, I am still optimistic about the future gold price and maintain a certain position. The professional investor said.
For the later gold price, some futures researchers pointed out that the rising expectations of interest rate cuts in the United States, coupled with the recent global geopolitical tensions and the active increase of gold reserves by central banks, are the forces that stimulate this wave of gold rise. "Data from the Institute for Supply Management (ISM) showed that while the U.S. economy is still expanding, the services index fell more than expected, reinforcing market expectations that inflation could fall further, which in turn affected the U.S. 10-year Treasury yield. "The CME Fed Watch Tool shows a 71% chance that the Fed will cut interest rates in June, and gold is likely to remain strong as the dollar is expected to weaken as it begins this year." ”
Essence International also believes that the recent geopolitical situation has heated up, and in the context of tense international relations, the central banks of China, India, Russia and other countries are also increasing their gold reserves. With elections in many countries in 2024, including the U.S. presidential election, global uncertainties are increasing, and the demand for gold is expected to remain.
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