(Source: "Worker Daily" 2026-03-25)
Last week, the international gold price suffered a rare plunge, with a weekly decline of more than 10%, setting a record for the largest weekly decline in the past 43 years. In the early morning of March 21, spot gold fell below 4,500 US dollars per ounce, and the prices of domestic brand gold jewelry fell sharply. Prices of pure gold jewelry from well-known brands such as Chow Tai Fook and Chow Sang Sang fell below 1,400 yuan per gram. At the end of January this year, this price was generally maintained at 1,700 yuan/gram. Many young people are sitting on portable mats with their mobile phones connected to power banks. They are not rushing to buy limited edition trendy products, but waiting to buy gold. This is the scene outside Beijing's SKP shopping mall in January this year when the international gold price soared.
"As soon as the mall opened, we stopped issuing queuing number plates. A total of four to five hundred were issued, which has reached the full-day reception limit." In January this year, at the SKP mall in Beijing, a store clerk at Laopu Gold told reporters, "The people at the front came as early as 4 a.m."
After experiencing fluctuations and rising prices, gold prices dived from high levels and then rebounded, repeatedly performing a "roller coaster" market.
However, despite the frequent fluctuations in gold prices, consumers' enthusiasm for buying gold has not subsided. Many consumers are optimistic about gold's long-term hard currency properties and choose to "buy at low prices." Especially young consumer groups have become a "promoted horse" in the gold consumer market.
From exclusive to elders to “new favorite” of young people
Recently, the price of gold has dropped, and gold stores and banks in many places have experienced a gold buying boom. Some banks have sold out of gold bars quickly. "The mall is holding an event recently, and we can get it at a 15% discount, so we took advantage of the discount and bought it quickly." In a gold store in Beijing, a couple born in the 1990s told reporters with a smile, "We are very optimistic about the value-preserving function of gold, and we thought it would be more cost-effective to buy it early." "I used to think that gold was exclusive to the elders, but now almost all my friends have one or two pieces of gold jewelry." The words of Lin Yiyi, a consumer born after 1995, are a true reflection of the current youthful consumption of gold.
The "Insights on China's Gold Jewelry Consumption Trends in 2025" released by the World Gold Council shows that the gold jewelry ownership rate of consumers aged 18 to 24 is as high as 62%, while this figure was only 37% five years ago. While the business of branded gold shops is booming, goldsmithing shops that provide gold processing services are also emerging. Guo Zhipeng, the manager of Master Gold Workshop, introduced the current business structure of the workshop: processing of supplied materials accounts for 70%, trading in old materials for new ones accounts for 20%, and selling gold for cash accounts for 10%. All three types of business have grown significantly.
“Nowadays, people are very willing to process the old gold at home, instead of just buying new products directly. This is also a major trend in young people’s gold consumption.” Guo Zhipeng said. Guo Zhipeng observed that the main people who process supplied materials and w88-in old materials for new ones are young people aged 25 to 35, who prefer popular styles in the market and personalized customization. The majority of people aged 35 to 45 are mainly those aged 35 to 45 when selling gold, and most of them hold gold purchased at low prices in the early years. Guo Zhipeng told reporters: "The business of goldsmith shops better reflects the return of rational consumption, and everyone pays more attention to the value of gold itself."
From value-preserving assets to emotional carriers
In addition to value preservation, what attracts consumers is the emotional value and cultural connotation carried by gold. “What I like most when buying gold is its design. "28-year-old Zhang Han chose 50,000 yuan of gold jewelry for his wedding preparations. "The details of this ancient craft are particularly exquisite. When I wear it and my friends recognize the style, it feels very special."
Consumers are willing to pay a premium for ancient gold jewelry because of the scarcity of its craftsmanship and the sense of cultural significance. IP co-branded gold jewelry has opened up another path. Chao Acer's 0.1-gram line puppy co-branded pendant sells for 320 yuan, and the 0.7-gram Kuromi transfer beads sell for 1,312 yuan. The unit price per gram is far higher than that of ordinary gold, but they are still popular.
Wang Ziyun, a post-2000 generation, wore the Butter Bear co-branded gold jewelry she just bought and told reporters: "I don't worry too much about the weight. I just like this IP for many years, and I want to buy it when I see the co-branded model. This kind of happiness bought for a few hundred yuan is very real, and you can share it with friends who also like this IP."
The reporter observed that most of this type of IP co-branded gold jewelry adopts the "fixed price" model. The lightweight design lowers the purchase threshold of gold, and the story carried by the IP itself makes gold become a carrier of self-expression for young people. "Many young people choose gold jewelry first by looking at the style and design, and then by considering the brand and meaning. On the contrary, they are not so sensitive to the weight." A staff member of the Beijing Yichao Acer store told reporters.
Rational allocation of gold assets
The deeper driving force of the gold buying craze comes from changes in the global macroeconomic landscape. Li Xunlei, chief economist of Zhongtai International, analyzed that the scale of global currency has increased 160 times in the past 60 years, which is the fundamental driving force for the long-term rise in gold prices. Li Xunlei suggested that investors should allocate gold rationally and not blindly chase high prices, so as to prevent risks and not miss the trend. He also reminded of investment risks: "Holders need to bear fluctuations."
In response to the current situation where gold price fluctuations and consumption boom coexist,Chen Hao, a professor at the w88 casino of Economics at the w88 casino, believes that the recent decline in gold prices has triggered panic buying, and there are two motivations behind it: First, gold’s characteristics as a safe-haven asset are still prominent, and global geopolitical conflicts and economic uncertainty continue to increase consumers’ demand for safe-haven; second, the continued decline in gold prices has objectively provided room for imagination for short-term arbitrage, giving rise to the “bottom buying” trend.
Regarding the current "gold buying craze" phenomenon such as the difficulty of buying bank gold bars,Chen Hao analyzed that in the context of a large single-day drop in gold prices, in order to prevent vicious speculation risks, banks will impose limits on total daily sales and strengthen risk control measures, and consumers' high trust in bank channels has also led to a concentrated release of demand. He predicts that this short-term tension may need to wait for gold prices to further bottom out and rebound moderately, and market expectations to be rebuilt before gradually easing.
Chen Hao suggested that ordinary consumers should allocate gold assets through long-term investment rather than short-term arbitrage speculation strategies. "The price of gold fluctuates greatly, and the recent risks are more obvious. The risk of taking advantage of short-term price differences to arbitrage is very high. Consumers can buy and sell in batches and gradually. It is not recommended to use an excessively high proportion of household assets to purchase gold, nor is it recommended to invest with leverage."
Some experts said that this gold boom may rise and fall with price fluctuations, but the trends it reflects in rational consumption and diversified reserves will continue to affect the market structure on a longer time scale.
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