On September 9, Jin Shi Data reported that driven by the strong rise in international gold prices reaching record highs, the domestic gold jewelry market has reached an important milestone—many brand gold jewelry prices exceeded 1070 yuan/gram on September 9.
From the perspective of specific brands, Chow Sang Sang's gold jewelry is priced at 1074 yuan/gram, an increase of 8 yuan/gram compared to the previous day; Chow Tai Fook, Lao Feng Xiang, and Luk Fook Jewelry are priced at 1073 yuan/gram, with an increase of 13 yuan/gram compared to the previous day. The adjustment in pricing reflects the rapid transmission of domestic gold jewelry prices to fluctuations in international gold prices.
Core logic and impact analysis behind the market situation
1. The 'engine' role of international gold prices
Recently, international gold prices have continuously set new records, and the spot gold recorded an increase of +0.48%. Globally, factors such as geopolitical disturbances, fluctuations in the dollar index, and rising demand for safe-haven assets have jointly driven international gold prices higher. The domestic gold jewelry prices are highly correlated with international gold prices, and the 'bull market' of international gold prices has directly become the core driving force for domestic gold jewelry price adjustments.
2. Supply and demand and consumption expectations in the domestic market
The gold jewelry price has broken through the threshold of 1070 yuan/gram, which reflects the value-preserving property of gold as a 'hard currency'—when market uncertainty increases, the dual attributes of gold jewelry as 'investment + consumption' still attract some consumers; on the other hand, high prices may suppress terminal consumption demand: non-essential jewelry consumption may face a 'price increase and quantity reduction' short-term game, with some consumers temporarily waiting due to high prices, while others may choose to buy because they are optimistic about gold's long-term value preservation.
3. The transmission to the industry and industrial chain
The collective price adjustment of gold jewelry brands will have a chain reaction on the gold and jewelry industry chain: from upstream gold raw material supply, to midstream processing and manufacturing, and down to downstream terminal retail, all will usher in a new operational rhythm and market game in a high price environment. The price strategies among brands and consumers' purchasing decisions may therefore show more obvious differentiation.
Overall, the domestic gold jewelry price has broken through 1070 yuan/gram, which is a direct result of the strong performance of international gold prices being transmitted to the domestic terminal market. Continuous attention should be paid to the trends in international gold prices, domestic consumer market feedback, and changes in industry response strategies.
