Core Viewpoint - The article highlights the rapid rise in international gold prices and the subsequent increase in domestic gold jewelry prices, leading to a shift in consumer preferences towards "hard gold" products, particularly among younger generations [1][5][12]. Market Trends - Since September, international gold prices surged from $3,400 to over $3,700 per ounce, prompting domestic gold jewelry prices to rise above 1,100 RMB per gram [1]. - The hard gold category has captured over 20% of China's gold jewelry retail market in 2024, especially favored by Generation Z and millennials [1][5]. Product Characteristics - Hard gold is defined by a minimum hardness of 60HV and a gold content of at least 990‰, achieved through advanced manufacturing techniques [3][11]. - The product is characterized by being harder, lighter, and shinier compared to traditional gold, making it suitable for intricate designs and enhancing comfort for wearers [3][8][11]. Consumer Behavior - Despite a decline in gold jewelry demand, the total expenditure on gold jewelry remained stable at 137 billion RMB (approximately $19 billion), indicating consumers are spending more for less gold due to rising prices [5]. - Hard gold products address consumer pain points by offering a variety of attractive designs at fixed price points, appealing particularly to young female consumers [5][12]. International Expansion - The World Gold Council launched the "New Silk Road Innovative Gold Jewelry Export Plan" to promote the internationalization of China's gold jewelry industry, showcasing hard gold at international exhibitions [12][14]. - There is growing interest from overseas buyers, particularly from Southeast Asia and the Middle East, in hard gold products, with many buyers expressing significant interest during exhibitions [14][16]. Cultural Adaptation - Different regions exhibit unique aesthetic preferences, with Western markets favoring simpler designs while Middle Eastern consumers prefer larger, more intricate pieces [15][16]. - The article emphasizes the importance of understanding local market demands and cultural differences for successful international expansion of hard gold products [16].

21世纪经济报道记者 边万莉 实习生王子颖 自9月以来，国际金价从3400美元/盎司一路高歌猛进，最高时一举突破了3700美元/盎司这一重要关 口。在国际金价强势上涨的带动之下，国内金饰价格也随之呈现出持续攀升的态势，目前已经冲上1100 元/克的高位。 金价飙升下，金饰消费市场进入调整期。"轻克重、高工艺"的硬足金在中国市场火速出圈，成为黄金珠 宝零售增速最快的黄金品类。世界黄金协会调研数据显示，2024年硬足金已拿下中国金饰零售额20%以 上，尤其深受Z世代和千禧一代追捧。凭借着突出的生产制造能力、加工工艺、设计能力等优势，中国 硬足金品类正在走向海外。 21世纪经济报道记者在"九月香港珠宝首饰展览会"上注意到，世界黄金协会首次与14家中国金饰制造企 业，共同打造了"硬足金饰品展"，全方位秀出硬足金在设计、工艺和时尚与文化表达上的惊艳突破，吸 引众多的海内外客户驻足。世界黄金协会中国区CEO王立新认为，凭借我们对国际市场的深入洞察和本 土市场的成功实践，硬足金出海的时机已至。正所谓"千里之行始于足下"，关键是要敢于迈出第一步， 更远处的机会已经隐约可见，接下来要思考的，只是如何走好脚下的路。 印度某珠宝商 ...