Gold Jewelry Price Hits Record High in China Amid Rising International Prices

The price of gold jewelry in China has surged to a record high of 1,300 yuan per gram, according to recent data. This comes after a slight drop in prices for pure gold jewelry from domestic Chinese brands.

Li Yang, senior gold investment analyst at Caibai Co., Ltd., attributed the rise in prices to the recent increase in international gold prices, which are affected by changes in the US macro environment.

The cooling of US interest rate hike expectations and a decline in the US dollar index and bond yields have pushed up the gold price from a valuation perspective, said Gu Fengda, chief analyst at Guoxin Futures.