On April 30, the price of gold plunged. As of press time, spot gold fell below the $3280/ounce mark, with the latest report of $3279.27/ounce, down 1.13% during the day; the main COMEX gold futures latest report of $3294.1/ounce, down 1.18% during the day.

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According to a report by Consumer Daily on April 30, many respondents pointed out that many consumers are more concerned about the trend of gold prices, or hope to "get on the car" at a lower price, or hope to cash out the gold jewelry in their hands at a high level, and some consumers also have a conservative wait-and-see attitude. However, gold prices are in a volatile stage, and gold trading should be rational and do not chase ups and sell downs. Consumers should understand the recycling standards and requirements in advance when repurchasing gold, and keep relevant certificates.

"Post-90s" consumers: I feel sorry for buying now

But if you don't buy it, you're afraid that you will continue to rise

According to Consumer Daily, the current gold price is at a high level compared with the beginning of this year, which has a significant impact on the gold consumer market. Recently, the reporter saw at the head store of Beijing Caishikou Department Store Co., Ltd. (hereinafter referred to as "Caibai Head Store") that there were 3 to 6 consumers in front of almost every gold jewelry sales counter, and the sales staff were too busy to hand in hand.

Xiao Li, a consumer born in the 1990s, uses gold as a "safe-haven currency" and buys gold jewelry every year on his birthday. "It is both jewelry and deposits. I feel sorry for buying now, but if I don't buy it, I'm afraid of continuing to rise."

A salesperson from a brand gold jewelry store in Shijingshan District, Beijing told reporters: "Although consumers who come to the store for consultation have not reached the point of 'queuing', there has been a significant increase recently. More and more consumers have begun to pay attention to the popularity of gold. Most of the people who sell the gold jewelry are hoping to cash in to get profits, while those who buy gold jewelry are generally citizens who need marriage and other urgent needs."

The frequent fluctuations in gold prices have also prompted more consumers to pay attention to gold repurchases. At the repurchase office of Caibai General Store, consumers who came to consult were lined up in a long queue. Consumer Mr. Liu told reporters: "The overall price of gold is at a high level recently. I plan to cash out gold jewelry from my elders as an adult gift. I don't wear it normally, and I have been 'under the bottom' for many years."

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Photo source: Photo by Kong Zesi, a reporter from Meike (data photo)

At the same time, the gold recycling business of the recycling platform is also very popular.

Zhuanzhuan said that recently, the popularity of gold recycling in Zhuanzhuan stores has continued to rise, and the number of in-store consultations and recycling users has increased significantly. Since April, the total weight of gold recycling has increased by more than 70% month-on-month, with the maximum weight of 2,600 grams per recycling.

"Sell 10 kilograms a day at most"

In addition, according to China News Service, on the 27th, a businessman said when a reporter visited Shenzhen Shuibei Jinzhan Jewelry Plaza. “Since last week (the week of April 14), (the gold bars) have been 'just like crazy'.”

The merchant pointed to the place where the gold bars were placed in the counter and said, "There were all empty yesterday (26th). Today, the goods that were just replenished are released every day."

The aforementioned merchant said that as long as it is gold bars, it is very intimidating. "(customer) no matter what weight you are, it is gold bars that people want, and those with large weights are more likely to be snatched away."

Another store’s counterware said that the gold bars in the store were not in stock, so if you need it, you can place an order first and come to pick up the goods later. She also said that gold bar sales have been very popular recently, "at the most, they sell ten kilograms a day."

A staff member of a golden store located on the first floor of Shuibei said that the store has four branches in Shuibei. Currently, the four branches of 100 grams of gold bars are out of stock. If necessary, you can use 20 grams and 30 grams to make up 100 grams.

"The price of gold is so high recently, so many customers will give priority to gold bars, because many people don't wear jewelry, and the labor cost is still high, so it's better to save gold bars. So now (factory) can't keep up with the speed of selling gold bars." said the above staff.

Shuibeiguijie Yaoyao (pseudonym), who has been in the industry for more than ten years, told China News Service that many customers have come to buy gold bars recently. There are no spot gold bars in the exhibition hall where she is now. If you need to buy, you must place an order first and pick up the goods the next day.

"The labor cost of gold bars is the lowest. If the gold price plus two or three yuan of labor cost on that day, buying gold bars is equivalent to saving money." Yaoyao promoted to the customer who came to consult.

China News Service visited and learned that the price of gold for water shells on that day was 797 yuan per gram, the price of recycling was 777 yuan per gram, the labor cost of gold bars ranged from two yuan to eight yuan, and gold jewelry ranged from dozens of yuan depending on different styles. On April 25, 2024, China News Service also visited Shuibei. On that day, the gold price of Shuibei was 550 yuan per gram, and the recycling price was 538 yuan per gram.

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