实探丨金饰金价一路走高，交易遇冷！“自戴需求”渐成主流

Core Viewpoint - The international gold price has resumed its upward trend, leading to a rise in gold jewelry prices, with a significant shift in the market dynamics where "self-wearing demand" has surpassed wedding-related demand [1][8]. Price Trends - Domestic brand gold jewelry prices have generally exceeded 1300 RMB per gram, with Chow Tai Fook's price rising from 1313 RMB to 1333 RMB within two days [1]. - In the Shenzhen Shui Bei gold jewelry market, prices have reached around 1106 RMB per gram, marking a historical high, although international gold prices have not yet returned to their peak [5]. Market Dynamics - The differentiation in brand pricing is influenced by brand positioning and inventory strategies, with established jewelers maintaining high prices to uphold their premium image, while some brands adopt lower pricing strategies due to supply chain advantages [5]. - The market has seen a decline in gold jewelry sales volume, with a nearly 30% decrease compared to the same period in October [5]. Consumer Behavior - The rising gold prices and increased processing fees have burdened consumers, with some brands' processing fees nearing 10% of the total price [7]. - Despite the high prices, lightweight and high-value gold jewelry products continue to attract strong market interest, indicating a shift from a focus on scale to innovation within the gold jewelry industry [7]. Demand Shift - Research indicates that "self-wearing demand" now accounts for 37% of gold jewelry sales, significantly surpassing wedding-related purchases, highlighting a fundamental change in market driving logic [8]. - Industry experts suggest that upstream manufacturers should shift their perspective from seller to buyer, enhancing product storytelling and connecting emotionally with consumers [9].