Over the weekend, a gold price storm swept across the globe and the jewellery industry plunged into an unprecedented situation. On March 2, Hangzhou jewelry industry insiders revealed that international and domestic gold prices were sharply high, and domestic gold prices hit a record high.
Overnight, the gold price of many jewelry stores in Hangzhou soared to 637 yuan, the highest point in many years. Many jewelry owners expressed surprise at this, believing that the increase was unprecedented and was caught off guard. A jewelry store owner with more than 10 years of business history revealed that he was still selling ** in the live broadcast the night before, but he didn't expect the gold price to be large ** the next day, and the loss was serious.
Despite the surge in gold prices, consumer enthusiasm for gold has not waned. Some consumers believe that the price of gold will continue**, so they are buying it. According to the owner of the jewelry store, the customers who bought gold items this weekend were mainly for marriage, which drove a significant increase in sales.
The trigger for the gold price storm was mainly caused by the outbreak of international gold prices last week. Affected by weak U.S. data, international spot prices soared by nearly $40, once soaring to $2,088 an ounce, and finally closed at $2,083 an ounce, the biggest increase in two and a half months.
The gold price storm has brought great impact and change to the jewelry industry. The owners of jewelry stores said that they would pay close attention to the market dynamics, flexibly adjust their business strategies to cope with the uncertainty of gold prices, and called on consumers to buy gold rationally.
This gold price storm has brought unprecedented challenges and opportunities to the jewelry industry. It is worth keeping an eye on the future of the gold price and how the jewellery industry responds.