500 yuan, 550 yuan, 600 yuan... With the price of gold steadily rising, behind every pair of eyes staring at the gold quotation, there is a heart that is ready to move. Is it still a good time to buy gold now? Breaking through 600 yuan, the domestic gold price has been "steadily rising". "The price of gold jewelry has dropped to 605 yuan in the past two days, and today it is 599 yuan." On the 11th, a teller at a certain Zhoudafu store in Beijing told reporters. Not only Chow Tai Fook, but according to reporters, the retail prices of full gold jewelry from brands such as Zhou Shengsheng and Lao Fengxiang are currently fluctuating around 600 yuan. Caibai's full gold jewelry prices are relatively low, with a quote of 572 yuan on the 12th. The rise in gold prices is more intuitive from a data perspective. The Au99.99 market trend chart of the Shanghai Gold Exchange shows that gold prices have been rising since July 2022. After breaking the 400 yuan mark in November last year, they reached 468.09 yuan on September 11, an increase of about 20% compared to the same period last year. In the first half of the year, the risk aversion sentiment triggered by the US banking crisis and the US government debt ceiling crisis pushed investors into the gold market, leading to a significant increase in international gold prices. Recently, under the influence of the rebound in the US dollar, the international gold price measured in US dollars has fallen. Why is the domestic gold price going out of the opposite trend and continuing to rise? In the view of Wang Youxin, a senior researcher at the Bank of China Research Institute, this reflects the strong demand for gold in China. Wang Youxin mentioned to a reporter from China New Finance and Economics that gold, due to its balance of value preservation and wearing properties, has gradually become a preferred investment variety for consumers in the context of pressure on other investment channels and product prices in China, such as real estate, stock market, and funds. With the increasing refinement of gold jewelry craftsmanship, young consumers' recognition of gold products is also increasing. In addition, factors such as the previous decline of the Chinese yuan, the drive of risk aversion, and people's early purchase of gold out of expectations of future international gold prices have all contributed to the recent rise in domestic gold prices. The trend of "buying more and more" has sparked a "gold buying frenzy" among the public. The strong demand for gold is most evident among sales personnel. There are indeed many people buying gold this year, and the low interest rates at banks, coupled with the mentality of 'buying up instead of buying down', have given rise to people's enthusiasm for buying gold, "said the aforementioned CTF teller. This "buying gold" craze has also driven an increase in gold sales. According to statistics from the China Gold Association, in the first half of this year, the national gold consumption was 554.88 tons, an increase of 16.37% compared to the same period in 2022. Specifically, in terms of categories, gold jewelry reached 368.26 tons, a year-on-year increase of 14.82%; 146.31 tons of gold bars and coins, a year-on-year increase of 30.12%. The growth rate of gold bars and coins is much higher than that of gold jewelry, which also reflects that people nowadays value the investment value of gold more. Previously, Ms. Zhang, who was in Beijing, purchased 20 grams of gold bars from Caibai due to risk aversion and investment needs. Now (on the 12th), the investment gold price has risen to 468.5 yuan. Ms. Zhang recently regretted that "she bought too little before. For young people who want to invest but are short of money, the popular "Little Golden Bean" has become a choice for many people. At the end of August, consumer Xiao Li paid 446 yuan
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：chinanews.com
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