www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Gold price in RMB buoyed by strong demand

Xinhua | Updated: 2023-10-20 10:41
Share
Share - WeChat
A customer tries gold jewelry at a store during the Mid-Autumn Festival holiday in Danzhai county, Southwest China's Guizhou province, Sept 11, 2022. [Photo/Xinhua]

BEIJING -- Liu Jie, a resident of Beijing, received a gold bean from her friend as a 30th-birthday gift recently.

"I asked my best friend to buy me a gold bean for my birthday," Liu said. "It's a kind of investment. Gold is a safe store of value and can be easily recycled."

Like Liu, many Chinese people have an increasing appetite for the safe-haven asset, whether in the form of gold bars, coins, necklaces, bracelets or beans. The pill-like bling, which only weighs approximately one gram, has become a fashionable choice for Chinese gold hoarders.

Bolstered by the strong demand, the RMB-denominated gold price has generally remained bullish this year, growing by 11 percent from the start of 2023.

The latest data from the Shanghai Gold Exchange shows that the price for gold that is 99.99 percent pure or above closed at 466 yuan ($64.9) per gram on Wednesday, sustaining the recent recovery.

At the Shuibei market, a gold jewelry manufacturing and trading hub in the southern metropolis of Shenzhen, consumer flow and gold sales this year have rebounded to the pre-pandemic level of 2019, said Chen Yuwan, general manager assistant of Shenzhen Jewelry Industry Service Co Ltd.

"On life-sharing platforms like Xiaohongshu and Douyin, content on how to buy gold jewelry and beans has been trending and widely searched," Chen added.

Gold manufacturers and dealers are also adjusting their market strategies to fully tap into the gold rush. Gao Dayan, who owns six franchised gold stores in East China's Shandong province, said that innovative products such as heritage gold, hard-pure gold, and "China-chic" jewelry are gaining popularity among consumers.

Gao said that, as he aligns his marketing with the new consumption trend, the total sales volume of his six stores from January to September is up by about 20 percent from the same period last year.

According to data from the China Gold Association, gold consumption in the Chinese market jumped 16.37 percent year-on-year in the first half of this year. Specifically, the consumption of gold jewelry increased 14.82 percent, and that of gold bars and coins by 30.12 percent.

A recent report released by the World Gold Council said that gold continues to dominate the country's jewelry market, with the inventory of gold accounting for 67 percent of the total jewelry inventory in Chinese jewelry outlets as of mid-year. The proportion expanded from 52 percent in 2021, according to the report.

Looking ahead, Liu Richeng, director of the futures department of Xiwang International Trade Co Ltd, said that although the RMB gold market has shown a relatively independent trajectory this year, it is still driven by the international market in general.

Liu said that both RMB and international gold prices fell in late September, which can be regarded as a correction to the price difference between the domestic and global gold markets. Liu projected that high premiums may return in the future.

Song Jiangzhen, a senior researcher at Guangdong Southern Gold Market Academy, said that considering investors' concerns over the international geopolitical situation, global gold prices are expected to see increased growth momentum in the short run.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 久久精品国产99国产精品免费看 | 久久777国产线看是看精品 | 免费在线看a | 亚洲成a人片毛片在线 | 在线亚洲精品自拍 | a级黄色毛片免费播放视频 a级精品九九九大片免费看 | 91pao强力打造免费高清 | 亚洲精品一区二区在线播放 | 免费看a级毛片 | 欧美国产成人免费观看永久视频 | 国产精选在线 | 久久亚洲国产最新网站 | 99在线观看视频 | 黄+色+性+人免费 | 香蕉久久久 | 日韩 欧美 国产 师生 制服 | 高清国产美女一级a毛片录 高清国产亚洲va精品 | 99re国产视频 | 亚洲一区二区久久 | 台湾三级香港三级在线理论 | 国产成人在线免费 | 5级做人爱c视版免费视频 | 九热视频在线观看 | 国产精品亲子乱子伦xxxx裸 | 日韩亚洲欧美综合一区二区三区 | 全球成人网 | 日本乱人伦在线观看免费 | 99国产精品热久久久久久夜夜嗨 | 99j久久精品久久久久久 | 国产精品高清久久久久久久 | 中文在线免费视频 | 欧美另类在线观看 | 99久久99久久久精品久久 | 国产自制一区 | 2021一本久道 | 国产成年人在线观看 | 国产欧美日韩综合精品一区二区 | 久久综合精品视频 | 欧美成人高清 | 日韩1级片| 久草网在线视频 |