“Gold bracelets are out of stock”! The gold market is sold out

During the National Day holiday, Shenzhen Shuibei gold and jewelry market ushered in a sales boom. As an important distribution center for the domestic gold and jewelry industry, many shopping malls and gold stalls in Shuibei are very popular.

Shenzhen, Guangdong: Gold sales are booming during the National Day holiday, and popular merchants are busy restocking

During the National Day holiday, reporters visited Shuibei, Shenzhen and saw that gold stores were crowded and the market’s customer flow increased significantly. Many merchants are overwhelmed with orders and are often too busy to take care of meals. They are open until around 9pm in the evening, and customer traffic during holidays is three to four times that of normal days.

Hao Runwei, a gold merchant in Shuibei, Shenzhen, Guangdong, said that sales during the National Day this year increased by 50% compared with last year. It was really busy during the National Day and it was too late to restock. The bracelet section is basically empty, and is currently being replenished. During the National Day, both small and large weights sold very well.

Zhang Rui, a gold merchant in Shuibei, Shenzhen, Guangdong, said that plain bracelets are a hot item and they prepared a lot of inventory during the National Day, but they were sold out two days before the National Day.

Wedding gold jewelry has become the main force of consumption in this round. There is a strong demand for wedding “three golds” and “hardware” related products such as dragon and phoenix bracelets, happy word chains, and wedding rings.

Peng Kangteng, a gold merchant in Shuibei, Shenzhen, Guangdong, said that during this year’s wedding, sales were 60% to 70% more than last year. Two to three times the amount of goods was prepared before the holiday. The goods were already out of stock on October 4th and 5th, and some factories came back to work overtime.

Gold trade-in is also experiencing a craze. Many consumers took out the old gold jewelry they had saved at home and replaced it with new wedding jewelry by paying the price difference. This not only revitalized the idle gold at home, but also reduced the cost of purchasing new products.

Shenzhen, Guangdong: Foreign tourists flock to Shuibei Market, and gold purchases by “international faces” increase

The correction in gold prices combined with holiday promotions has ushered in a gold buying boom for foreign tourists in the country’s largest gold and jewelry distribution center. Shuibei gold jewelry is becoming a “must-buy souvenir” when traveling to Shenzhen.

Recently, the international gold price has experienced a significant correction. Gold futures on the New York Mercantile Exchange fell below US$4,200 per ounce. Domestic Shanghai gold broke through the 900 yuan per gram mark. The price of branded gold jewelry has fallen by about 150 yuan per gram from its high point. Driven by the decline in gold prices, the listed price of Shenzhen Shuibei Jewelry gold fell back to 1,061 yuan per gram. Coupled with various promotional activities, gold consumption demand was released during the National Day holiday.

During the National Day, the proportion of foreign tourists in Shenzhen Shuibei Market increased significantly. After visiting the scenic spots and having morning tea, many tourists will come to Shuibei as their last stop to pick up gold jewelry to take home. There are also tourists who come from other places to purchase gold jewelry. Gold jewelry is becoming one of Shenzhen’s “local specialties.”

Hao Runsong, a Shuibei gold merchant in Shenzhen, Guangdong, said that foreign customers account for about 60%. During the National Day, sales increased by about 30% year-on-year and about 40% month-on-month.

The surge in tourist demand has also fueled Shuibei’s gold shopping guide business. During this year’s National Day, Xu Xu, a gold shopping guide, takes at least 30 to 40 groups of foreign customers to Shuibei every day to buy gold.

During the visit, the reporter also noticed that the number of “international faces” in Shuibei Market has quietly increased, and diamond jewelry and high-quality gold jewelry are especially favored by overseas tourists.

The Russian tourist told reporters, “We came to Shenzhen Shuibei this time to buy earrings and rings. I am very happy to be here. There are so many beautiful things and a lot of gold. I like big styles. The prices here are much cheaper than in Russia, and there are more different styles to buy.”