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China’s Gold Sales Surge Despite Price Hike

Gold sales continues to rise in China as consumers flock to gold stores, undeterred by recent sharp price hikes that have pushed the price to around 80 U.S. dollars per gram.


In the southern Chinese city of Guangzhou, gold shops are filled with buyers, driven by various motives, including special occasions and the enduring appeal of gold as a safe investment.

“It’s my birthday, so my husband wants to buy me a gift. The prices are really high, but I still have to buy some gold jewelry for the upcoming wedding.”

One shopper, celebrating her birthday, shared her determination to buy gold despite the elevated prices.

The sales manager at a local gold store revealed that sales for July and August have surged by a remarkable 20 percent compared to the same period last year. The allure of gold remains potent, even as its prices increase. Additionally, the high gold prices have prompted individuals to cash in on their own gold holdings.

Gold Rush in China Persists Despite Soaring Prices.
Gold Rush in China Persists Despite Soaring Prices. PHOTO/Courtesy.

Typically, the store sees a dozen people selling gold daily, with quantities ranging from 200 to 300 grams per transaction. This dual surge in buying and selling of gold reflects the evolving dynamics of the precious metal market.

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