The Chinese Gold Jewelry Market
(PresseBox) - When it comes to gold demand in the jewelry sector, there is always a special focus on China, a major consumer.
Currently, the National Bureau of Statistics of China has published the jewelry retail sales. First of all, there is an increase of 2.7 percent in October compared to the same month last year. In the first three quarters, a total decrease of 11 percent was recorded. In the third quarter, there was an increase of five percent, which benefited the retail sector. Buyers have increasingly turned to 24-carat products. One area that outperformed all other segments was antique worked gold. Plain antique-looking bangles were particularly popular. Chinese gold jewelry buyers preferences have changed since the Corona pandemic began. In 2020, as gold prices rose, consumers bought less expensive pieces. Consumer preferences then changed in late 2020 as the price of gold plummeted and they bought heavier pieces. This trend accelerated in early 2021.
The younger generation has developed an awareness of the appeal of gold in the wake of live streaming sales and social media. Younger people have increasingly discovered gold as a safe haven with investment qualities. Selling larger pieces of jewelry by weight made consumers more sensitive to prices and labor costs. Less design and luxury, gold as a longer-term investment was important. Incidentally, physical investment demand was greater than gold jewelry on both a year-over-year and quarter-over-quarter basis. Going forward, those familiar with the Chinese jewelry market expect the focus to remain on gold as an investment vehicle. Another option would be to get stocks of gold companies into the portfolio.
Caledonia Mining - https://www.youtube.com/watch?v=cSOMcWLvFEw - is producing successfully with participation from local investors in Zimbabwe. The Blanket gold mine was able to produce almost 60,000 ounces of gold in the first nine months of 2022. Part of the electricity comes from the new solar plant.
Gold Terra Resource - https://www.youtube.com/watch?v=KehewUd5rVg - is active in the Northwest Territories. The high-grade Yellowknife City project formerly included the Con and Giant gold mines.
Current corporate information and press releases from Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-mining-corp/ -) and Gold Terra Resource (- https://www.resource-capital.ch/en/companies/gold-terra-resource-corp/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 21.11.2022 - 02:15 Uhr
Sprache: Deutsch
News-ID 671439
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"The Chinese Gold Jewelry Market"
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