Just Now! Gold Jewelry Prices Have Risen Above 1,200 Yuan Per Gram.

As of press time on the 14th, spot gold (London spot gold) was trading at $4,143 per ounce, up 0.82%.

On the evening of the 13th, spot gold surpassed $4,100 per ounce, setting a new all-time high. This represents a year-to-date increase of over $1,400 per ounce, a gain of over 56%.

Influenced by international gold prices, prices of pure gold jewelry from Chinese jewelry brands have also risen. According to updated data on the 14th, the cost of Chow Sang Sang's pure gold jewelry has increased to 1,213 yuan per gram.

Public information shows that at the beginning of 2025, the price of pure gold jewelry from the aforementioned jewelry brands fluctuated around 800 yuan per gram. As of press time, the price of pure gold jewelry had risen by approximately 400 yuan per gram this year.

Wu Zewei, a special researcher at Suzhou Commercial Bank, told China Business Network that the current round of gold price increases, reaching new record highs, is primarily driven by three factors. First, the shift in monetary policy expectations among major central banks, particularly the Federal Reserve. The approaching interest rate cut cycle and expectations of a weakening US dollar have boosted gold's monetary appeal. Second, the continued ferment of geopolitical risks and the intertwining of global economic uncertainty have strengthened demand for gold as a traditional safe-haven asset. Furthermore, the long-term trend of many central banks steadily increasing their gold reserves has provided significant official support for gold prices. These factors reinforce each other and together constitute the core driving force behind the upward trend in gold prices.

Li Gang, research director of the China Foreign Exchange Investment Research Institute, told China Business Network that the current round of gold prices reaching new record highs is the result of the combined effects of three forces: geopolitical risks, policy shifts, and structural capital flows. Li Gang believes that structural funding is the key factor behind this round of gold price increases. Central banks around the world are currently purchasing gold at record highs for the same period, with emerging market countries in particular continuing to increase their holdings to hedge against exchange rate and reserve risks. Meanwhile, Chinese residents' investment behavior is also shifting – from previously buying real estate to preserving value to now buying gold to hedge risks. This represents a rare synergy between consumption and investment in this cycle.