Gold regains upward momentum as multiple jewelry brands' quotes surpass 1620 yuan/gram

Gold Jewelry Price Surpasses 1620 Yuan per Gram

Reporter: Ding Rong

Recently, international gold prices have regained an upward trend. On March 2, London gold spot prices once again surged past $5,400 per ounce during trading. Domestic gold jewelry prices also rose again. On March 2, the quotes for pure gold from several jewelry brands exceeded 1620 yuan per gram. Among them, Chao Hong Ji’s pure gold price was 1629 yuan per gram, Zhou Daxing’s 999 pure gold was 1629 yuan per gram, and Chow Tai Fook’s pure gold was 1629 yuan per gram.

High gold prices have become a “touchstone” for the gold jewelry industry, driving the sector from scale expansion to value deepening. Lin Xianping, associate professor at Zhejiang University City College, told Securities Daily: “Under high gold prices, the market structure of gold jewelry will be reshaped, with competition shifting focus to brand management, product innovation, and channel efficiency.”

Medium- and Long-Term Gold Price Outlook Is Optimistic

Huang Ting, precious metals analyst at Shanghai Steel Union Lead and Zinc Business Division, told Securities Daily: “The recent strong breakthrough in international gold prices mainly stems from the sharp escalation of geopolitical conflicts, which has generated safe-haven demand. Meanwhile, the market has rekindled hopes for the Federal Reserve to cut interest rates within the year, supporting gold priced in US dollars. Additionally, central banks worldwide continue strategic gold purchases to diversify foreign exchange reserves and reduce dependence on the US dollar, providing solid support for gold prices.”

Looking ahead, Huang said: “Overall, the market is generally optimistic about the medium- and long-term trend of gold. The Fed’s rate-cut cycle and ongoing gold purchases by global central banks form a strong foundation for long-term gold price increases. Many institutions believe gold could surge to $6,000 per ounce or higher. However, since prices have already risen significantly in the short term, any easing of geopolitical tensions could weaken price support.”

Regarding the impact of rising gold prices on gold consumption, a recent survey report by Dongwu Securities Co., Ltd. shows: “Rising gold prices have both stimulating and suppressing effects on demand. The proportion of people who have bought gold in the past three years is 67%, and 55% have bought gold in the past year. During the recent gold rally, many people started buying gold, indicating demand stimulation. Over two-thirds of respondents felt that people around them made money from buying gold and are watching for further buying opportunities, paying attention to the wealth effects brought by rising gold prices.”

Multi-Dimensional Upgrades in Gold Jewelry Companies

As gold prices rise, leading Chinese gold jewelry companies are actively upgrading across various dimensions, including brand positioning, product innovation, and channel development.

Recently, Laopuo Gold Co., Ltd. announced its first price increase for 2026, raising prices on several traditional pure gold jewelry pieces. According to a research report from Guojin Securities, “On February 28, Laopuo Gold officially started a price adjustment, with an overall increase of 20% to 30%, setting a new high for the company’s price adjustments. The pattern shows larger weight and popular styles seeing higher increases, while entry-level small-weight pieces see smaller hikes. The pricing strategy for high-end customers emphasizes brand positioning. Consumer acceptance of the price increase exceeded expectations, further validating the brand’s strength. Offline, on February 27, stores in Beijing, Shanghai, Guangzhou, and Macau experienced long queues, with wait times exceeding three hours; after the price increase on February 28, stores in Shanghai Yuyuan, Hangzhou Vientiane City, and others still saw long lines.”

Guangdong Chao Hong Ji Industrial Co., Ltd. has launched a series of high-weight, high-price products such as “Zhenjin Zhenzhu,” “Fan Hua,” and “Forbidden City Culture,” which received positive market feedback. The company’s product innovation combines unique Chinese elements and aesthetic design. Series like “Feng Ying,” “Drum Rhyme,” “Jing Cui,” “Xiang Kou,” “Shan Yuan,” and “Huasi Candy” are popular among consumers.

Zhou Daxing Jewelry Co., Ltd. continues to strengthen its high-end store network. Its “Zhou Daxing X National Treasure” brand aims to lead the “National Treasure Cultural Collection Gold” segment, building a brand culture centered on national treasures with unique value, creating a high-end gold differentiation barrier. A briefing on new self-operated stores in January shows the company added one high-end store each in North China, South China, and East China: Zhou Daxing National Treasure Beijing Dongfang Xintiandi, Zhou Daxing National Treasure Haikou CDF International Duty-Free Store, and Zhou Daxing National Treasure Hangzhou Xiaoshan Vientiane City.

Bai Wenxi, chairman of Zhonghe Kunlun (Beijing) Asset Management Co., Ltd., told Securities Daily: “Leading companies continuously upgrade in brand, product, and channel dimensions, which is expected to further consolidate competitive advantages, widen the gap with small and medium brands, and promote industry concentration, leading China’s gold jewelry industry toward high-end and internationalization.”

(Editor: Qiao Chuan Chuan)