Gold Jewelry Price Breaks 1500 Yuan Per Gram, Setting A New Historical Record!

Since the beginning of the year, international gold prices have continued to rise. Driven by this, the price of gold denominated in RMB has repeatedly hit new highs. On January 23, the prices of pure gold jewelry at many brand gold stores broke through the RMB 1,500 mark per gram, with some brands quoting RMB 1,548 per gram, an increase of more than RMB 50 per gram compared to the previous day, setting a new historical record.

In January, London spot gold rose steadily from around $4,300 per ounce, briefly exceeding $4,960 per ounce on January 23, representing a nearly 15% increase for the month. As a result, spot gold prices on the Shanghai Gold Exchange and the main gold futures contract listed on the Shanghai Futures Exchange both broke through 1,110 yuan per gram on January 23, setting new highs.

Cheng Xiaoyong, Assistant General Manager and Director of the Research Institute at Huawen Futures, stated that the recent rise in gold prices both domestically and internationally is supported by both long-term positive factors, such as strong demand from central bank gold purchases and investment, and geopolitical factors that have brought in more safe-haven funds, all contributing to the upward trend in gold prices.