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Gold prices hit new highs, and investment in gold "exploded"!

author:Hebei Economic Life Channel
Gold prices hit new highs, and investment in gold "exploded"!

In the past March, after two rounds of strong gains at the beginning and end of the month, the price of gold denominated in RMB rose by 9.68% in a single month, which also set a new record.

So what is the current situation of gold sales in the market? Will the high price affect the enthusiasm for gold investment?

Sales of gold jewelry are stable, and the willingness to buy is differentiated

Gold prices hit new highs, and investment in gold "exploded"!

Wang Chenhao, Account Manager of the Business Office of Shijiazhuang Chang'an Branch of Industrial and Commercial Bank of China: Last week, the international gold price opened at 2239.08 US dollars / ounce, and the international gold price in the middle of the week refreshed a record high again, and the highest price was 2330.47 US dollars / ounce, the lowest price was 2228.00 US dollars / ounce, and finally closed at 2329.57 US dollars / ounce. The international gold price rose 4.3% or $96.09 in a week.

By the end of the day, the New York Mercantile Exchange's COMEX gold broke through $2,380 per ounce, and finally closed up 0.89% at $2,372 per ounce, and after the opening on April 10, the COMEX gold price has always fluctuated above $2,370. Our financial reporter interviewed and found that with the rise in gold prices, in terms of gold jewelry, consumers' willingness to buy has diverged.

Gold prices hit new highs, and investment in gold "exploded"!

Shijiazhuang citizen: Because I like it very much, I have always liked something, no matter how expensive it is, I will buy it for myself.

Gold prices hit new highs, and investment in gold "exploded"!

China Gold Xinbai Plaza store staff: As before, people who like gold will continue to come to buy gold. There are no major changes from the previous words.

Gold prices hit new highs, and investment in gold "exploded"!

Beijing citizen: I'd better be cautious, I must pick some small pieces to buy now.

The more it rises, the more you buy, the more you invest in gold bars, you have to "wait for the goods"

Compared with the differentiation of people's willingness to buy gold in the gold jewelry consumer market, in terms of gold investment, everyone's enthusiasm has been ignited with the rise in gold prices.

Gold prices hit new highs, and investment in gold "exploded"!

Beijing citizen: Since the Chinese New Year, I have bought a little bit, and now, it has risen by more than 100 yuan, and then I want to buy a little more. Gold is held in the hand, and it is a hard currency forever.

Gold prices hit new highs, and investment in gold "exploded"!

Wang Meng, Product Manager of Gold Business of China Guangfa Bank Beijing Branch: The sales volume of our investment gold bars in the first quarter of this year has increased by 206% compared with the sales volume in the fourth quarter of 2023.

Gold prices hit new highs, and investment in gold "exploded"!

Wang Chenhao, Account Manager of the Business Office of Shijiazhuang Chang'an Branch of Industrial and Commercial Bank of China: From the perspective of the first quarter of this year, the sales volume of Ruyi gold bars of our bank increased by 74% year-on-year, the stock of Ruyi gold increased by more than 2 times year-on-year, and the stock of accumulated gold increased by 64% year-on-year. The popularity of customers buying and saving gold is relatively high.

Gold prices hit new highs, and investment in gold "exploded"!

Buying gold bars from a bank generally requires the customer to lock in the gold price, and then the bank will transfer the goods from the supply factory or from the warehouse according to the product purchased by the customer. A number of banks said that the recent increase in the number of gold bar orders, the supply of investment gold bars is tight, banks need to wait or even expedite the goods, and the waiting period of customers has also become longer.

Gold prices hit new highs, and investment in gold "exploded"!

Wang Meng, Product Manager of Gold Business of China Guangfa Bank Beijing Branch: Compared with last year, this year, customers may receive gold spot one or two days later. 7 working days is basically acceptable, compared to 3 to 5 working days before.

Gold processing companies "stop work and wait for materials"

There is also a need to wait for gold processing enterprises, in a gold processing industrial park in Shenzhen, Guangdong, financial reporters found that many enterprises have been suspended.

Gold prices hit new highs, and investment in gold "exploded"!

Wang Zhanrui, head of a gold processing enterprise in Shenzhen, Guangdong: Now the recycling cycle will be extended by 3 to 5 days. Because we are a recycling processing enterprise, slow recycling will affect our low production efficiency. For example, this afternoon, our employees are idle, waiting for the material to come back before we can start work.

Gold recycling is in demand

Gold prices hit new highs, and investment in gold "exploded"!

In the gold recycling market, the rise in gold prices has led more and more investors to choose to sell their gold. In a gold recycling store in Xiamen, the relevant person in charge told reporters that the recycling volume of their stores has recently increased by 30% to 50% compared with last month, and many customers are selling for cash. In Zhaoyuan, a gold producing area in Shandong Province, the head of a gold processing company told reporters that they now recycle about 300 to 500 kilograms a day. While the offline repurchase of gold raw materials is hot, many gold stores have also opened an online repurchase mode.

Gold prices hit new highs, and investment in gold "exploded"!

Lin Yu, the person in charge of an online gold repurchase business: We allow consumers to realize the rapid realization of gold by using subsidized coupons, free mailing, and preferential handling fees, among which the maximum amount of online gold recovered in a single day has reached more than 3,000 grams.

What is the reason for the rising price of gold?

Gold prices hit new highs, and investment in gold "exploded"!

What is the reason for the continuous rise of international gold prices to new highs?

Gold prices hit new highs, and investment in gold "exploded"!

Senior Gold Analyst Li Yang: There are three main reasons for the rise, one is the continuous strengthening of the market's expectations for the Fed's interest rate cut in the second half of the year, which has pushed up the rise in gold prices. The second point is the ongoing global geopolitical conflict, and the demand for safe haven has attracted some funds, which has further pushed up the price of gold. In addition, we see that the US government debt has reached 34 trillion yuan, and it is still expanding, and the weakening of the US dollar credit has caused many central banks to sell US bonds to increase their holdings of gold, which has played a supporting role in gold prices.

Gold prices are rising, what do investors need to pay attention to?

In the face of rising gold prices, experts also remind investors that gold investment should also be based on their own actual needs, and they must not blindly follow the trend.

Gold prices hit new highs, and investment in gold "exploded"!

Wang Chenhao, Account Manager of Business Office of Shijiazhuang Chang'an Branch of Industrial and Commercial Bank of China: Gold as an asset allocation product for medium and long-term investment, in addition to the functions of value preservation and hedging, there are also functions such as inheritance and gifts, and it is recommended that investors should focus on the long-term, according to their own risk tolerance and investment objectives, choose the appropriate gold investment method, and reasonably adjust the allocation ratio, personal recommendation of about 10%. At the same time, it is also necessary to pay close attention to market dynamics and risk factors in order to make timely adjustments and optimizations when necessary. If you need to save gold, you can purchase a certain gram weight or amount of gold in installments through our bank's Ruyi Gold Accumulation, which adopts the method of active accumulation or regular accumulation to flatten the gold holding cost and reduce the price risk caused by short-term sharp fluctuations in gold prices.

(Wang Guoyan, Wang Xiangfeng, Chen Zhuo report)

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Editor-in-charge: Wang Guoyan

Editor-in-chief: Tang Hongfeng, Qian Lezhe

Producer: Xu Hui

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