Group 1 - International gold prices have resumed an upward trend, leading to an increase in gold jewelry prices, with domestic brand prices generally exceeding 1300 yuan per gram [1][3] - The sales of finely designed and low-weight gold jewelry have remained stable, indicating a shift in market dynamics where "self-wearing demand" has surpassed wedding-related demand, now accounting for 37% of gold jewelry sales [4] - Brand premium is evident in the pricing strategies of various gold jewelry brands, with established brands maintaining high prices to uphold their premium image, while some brands leverage supply chain advantages to adopt lower pricing strategies [3][4] Group 2 - The gold jewelry market is experiencing a dual pricing system, with some merchants quoting pre-tax prices and others providing post-tax prices, resulting in historical high levels around 1106 yuan per gram [3] - High gold prices combined with rising processing fees have increased the burden on consumers, with processing fees for some premium jewelry styles nearing 10% of the total price [4] - The market is expected to transition from a focus on scale to one emphasizing innovation, as high gold prices drive demand for lightweight, high-value jewelry products [4]

Core Insights - International gold prices have resumed an upward trend, leading to an increase in gold jewelry prices, with a significant shift in consumer demand from wedding-related purchases to self-wearing needs [1][6]. Group 1: Market Trends - The average price of gold jewelry from domestic brands has surpassed 1300 RMB per gram, with Chow Tai Fook's prices rising from 1313 RMB to 1333 RMB within two days [1]. - In the Shenzhen Shui Bei gold jewelry market, prices have reached approximately 1106 RMB per gram, marking a historical high, despite international gold prices not yet returning to their peak [3][6]. - There is a noticeable decline in gold jewelry sales, with a reported decrease of nearly 30% compared to the same period in October [3]. Group 2: Consumer Behavior - The demand for self-wearing gold jewelry has increased, now accounting for 37% of gold jewelry sales, surpassing traditional wedding-related purchases [6]. - Consumers are slowing down their purchasing pace due to rising gold prices and new tax policies, although there remains stable demand for well-designed, low-weight gold jewelry [3][6]. Group 3: Pricing Strategies - Brand differentiation in pricing is evident, with Chow Tai Fook pricing at 1333 RMB per gram and other brands like Chow Sang Sang at 1295 RMB, influenced by brand positioning and inventory strategies [3]. - The rising cost of craftsmanship is becoming a significant factor in the total price of gold jewelry, with some brands seeing craftsmanship costs nearing 10% of the total price [6].