Core Viewpoint - The rising popularity of "pain gold" among young consumers is attributed to its unique blend of emotional consumption and cultural expression, driven by the influence of anime and IP collaborations [2][8]. Group 1: Market Trends - The price of "pain gold" products has surged, with some items being sold at nearly three times the daily gold price, indicating a strong demand and supply shortage [1][2]. - The transaction volume of IP gold products has increased by 294% year-on-year, highlighting a significant growth in this niche market segment [2]. - Young consumers aged 18 to 34 contribute over one-third of gold jewelry sales, reflecting their increasing purchasing power and willingness to spend on gold products [7]. Group 2: Product Examples and Pricing - A gold jewelry set co-branded with "Tian Guan Ci Fu" was listed on a second-hand platform for 16,600 yuan, translating to approximately 1,509 yuan per gram [5]. - A limited edition pure gold series linked to "Mobile Suit Gundam SEED" was sold out quickly at a price of 80,000 yuan, demonstrating the high demand for such collaborations [5]. - A gold pendant associated with "Chiikawa" was priced at 2,800 yuan per gram, which is 2.76 times the daily gold price, showcasing the premium consumers are willing to pay for these products [5]. Group 3: Consumer Behavior and Insights - Consumers are increasingly purchasing "pain gold" not just as an investment but also as a form of self-expression and emotional connection to their favorite IPs [5][8]. - The emotional and social currency aspects of "pain gold" make it appealing to young consumers, who are willing to pay a premium for these items [8]. - Despite the current popularity, traditional gold jewelry still dominates the market, and "pain gold" may face challenges due to its high price volatility and premium pricing [8].

Core Viewpoint - The trend of "pain gold" is gaining popularity among young consumers, with prices significantly exceeding the daily gold price, indicating a strong demand and emotional connection to the products [1][4][6]. Group 1: Market Trends - "Pain gold" products have seen prices rise to 2-3 times the daily gold price since 2025, leading to a supply shortage [1]. - A specific gold note originally priced at 899 yuan is now being sold for nearly 1600 yuan on second-hand platforms, reflecting a price increase of almost 78% [4]. - The collaboration between gold brands and popular IPs (intellectual properties) is becoming a growth point for several jewelry brands amid an overall weak gold consumption environment [6]. Group 2: Consumer Behavior - Young consumers are increasingly viewing "pain gold" as a valuable collectible, with emotional ties to the IPs driving their willingness to pay a premium [4][6]. - A gold jewelry set associated with the IP "Tian Guan Ci Fu" is being sold for 16,600 yuan on second-hand platforms, attracting significant interest [4]. - The emotional connection and social currency attributes of "pain gold" are leading to higher demand, with consumers actively seeking these products despite potential price corrections in the future [6]. Group 3: Brand Collaborations - Notable collaborations include a high-priced pure gold series with "Mobile Suit Gundam" that sold out quickly, and a gold pendant linked to "Chiikawa" priced at 2800 yuan per gram, which is 2.76 times the daily gold price [6]. - The rising gold prices have contributed to the appreciation of "pain gold," with some products seeing their values increase significantly since their launch [6].