Core Insights - The global gold market on October 4, 2025, exhibited a diverse pricing system with significant differences between domestic and international gold prices, as well as varying retail strategies among different gold brands [1] Group 1: Global and Local Pricing - The international gold price closed at $3868.9 per ounce, while the Shanghai Gold Exchange's base price was set at 875.0 RMB per gram [2] - In Hong Kong, gold was traded at 42810 HKD per tael, and the gold recycling price was 860 RMB per gram, indicating strong demand for physical gold [2] Group 2: Retail Pricing Strategies - Domestic gold retail prices showed a clear gradient, ranging from 918 RMB to 1137 RMB per gram, with traditional brands like Chow Tai Fook and Chow Sang Sang priced at 1129 RMB per gram, reflecting brand premium and craftsmanship [3] - Other notable prices included Lao Feng Xiang and Lao Miao at 1125 RMB per gram, while local brands like Cai Bai Jewelry and Zhou Li Fu were priced at 1078 RMB and 1084 RMB per gram respectively [4] Group 3: Investment Channels - Shui Bei Gold offered competitive prices at 886 RMB per gram, and investment gold bars were priced at 889 RMB per gram, showcasing its advantages in the investment sector [5] Group 4: Panda Gold Coins - The 2025 edition of the Panda Gold Coin set, issued by the People's Bank of China, is priced at 52794 RMB for the complete set, with individual coins ranging from 1185 RMB for 1 gram to 480000 RMB for 1 kilogram, catering to various investor needs [6] - Unique designs such as the 150-gram square gold coin and colored gold coin are priced at 90000 RMB and 88000 RMB respectively, attracting collectors [6] Group 5: Virtual Trading Options - Major banks offer paper gold, silver, platinum, and palladium trading services, with slight declines in prices across various metals, including a drop of 0.10% to 0.19% for paper gold in USD per ounce [9][10] Group 6: Popop Gold Series - The Popop gold series, under the brand Pop Mart, features a unique IP-driven retail model with prices ranging from 980 RMB to 68000 RMB, targeting the parent-child market [11] - The pricing strategy shows a significant premium, with the "Baby Molly series" gold items priced at 1385 RMB per gram, which is approximately 25% higher than traditional brands [11] - Experts suggest that while the "one-price" model may risk losing some consumers, Popop's market potential remains promising, pending broader acceptance of the IP gold innovation [11]

Core Insights - "Pain Gold" is gaining popularity among young consumers, with prices for certain gold products being driven up to nearly double the daily gold price since 2025, leading to a supply shortage [1][2] Group 1: Market Trends - The topic of "Pain Gold" has surpassed 2.25 million views on social media platforms, with IP gold product transactions increasing by 294% year-on-year [3] - A specific gold product weighing 1g, originally priced at 899 yuan, is now being resold for nearly 1600 yuan on second-hand platforms, indicating a significant price increase [5] - The trend of "Pain Gold" is becoming a growth point for several jewelry brands amidst an overall weak gold consumption market [3][12] Group 2: Consumer Behavior - Young consumers are purchasing "Pain Gold" not only for its investment value but also for emotional attachment to the associated IPs, with many expressing a desire for unique and personalized items [6][10] - The rise of "Pain Gold" reflects a shift in young consumers' mindset towards "consumption-based savings," where products serve both as investment and emotional value [18][22] - The emotional connection and social currency associated with IPs encourage young consumers to pay a premium for these gold products [22] Group 3: Product Pricing and Valuation - Certain gold products, such as a collaboration with "Mobile Suit Gundam," have been priced as high as 80,000 yuan and sold out quickly, indicating strong demand [8] - A gold jewelry set weighing approximately 11 grams is being resold for 16,600 yuan, translating to a price of 1,509 yuan per gram [6] - The valuation of "Pain Gold" products can significantly exceed their original prices, with some collectors reporting gains of over 120,000 yuan [8]

Core Insights - The trend of "pain gold" is gaining popularity among young consumers, with prices for certain gold products being driven up to nearly double the daily gold price since 2025, leading to a supply shortage [1] - The rise of "pain gold" is attributed to its emotional connection and social currency among young people, who are willing to pay a premium for items linked to their favorite IPs [8] Group 1: Market Trends - The "pain gold" concept, originating from Japanese otaku culture, involves adding anime elements to items, making it a form of expression for fans [7] - The browsing volume for the hashtag 痛金 on Xiaohongshu has surpassed 2.25 million, indicating significant interest [7] - In the past year, transactions for IP gold products on Taobao have increased by 294%, prompting the platform to create a dedicated category for "IP gold" [7] Group 2: Product Pricing and Demand - A gold note product originally priced at 899 yuan per gram is now being resold for nearly 1,600 yuan on second-hand platforms, reflecting a significant markup [3] - A gold jewelry set in collaboration with "Tian Guan Ci Fu" is being sold for 16,600 yuan on second-hand platforms, with an estimated price of 1,509 yuan per gram [3] - The collaboration between Lao Feng Xiang and Bandai Namco for a gold series priced at 80,000 yuan sold out quickly, demonstrating strong demand [7] Group 3: Investment Potential - Some collectors have reported significant appreciation in the value of "pain gold," with one collector noting a potential increase of over 120,000 yuan in value [7] - A limited edition gold collectible from Lao Feng Xiang originally priced at 880,000 yuan is now valued at over 1 million yuan, highlighting the investment potential of these items [7] - The price of gold has risen by approximately 25% since April 2025, further enhancing the value of these collectibles [8]

Core Insights - The rise of "pain gold" among young consumers is attributed to its association with anime IPs, leading to a significant increase in demand and prices, with some products reaching up to 2800 yuan per gram, nearly three times the daily gold price [1][5][17] - The market for IP gold products has seen a staggering 294% year-on-year growth in transactions, indicating a shift in consumer preferences towards collectible and emotionally resonant gold items [1][3][17] Group 1: Market Trends - "Pain gold" has become a popular investment choice for the younger generation, with some items being resold at nearly double their original prices, reflecting a strong secondary market [3][5] - The trend of combining gold with anime IPs has revitalized the jewelry market, attracting a new demographic of consumers who value both aesthetic and investment potential [1][8][16] Group 2: Consumer Behavior - Young consumers are increasingly drawn to gold items that offer emotional value and personalization, such as DIY jewelry, which enhances their appeal beyond traditional gold purchases [10][12][14] - The emotional connection to anime characters and themes drives young consumers to pay premium prices for "pain gold," as it serves as both a collectible and a status symbol [17] Group 3: Industry Implications - The success of "pain gold" highlights the need for jewelry brands to innovate and cater to the emotional and aesthetic desires of younger consumers, which could lead to sustained growth in this segment [1][16][17] - As gold transitions from a traditional investment to a fashionable item, brands must adapt their marketing strategies to engage with the younger audience effectively [15][17]

Core Viewpoint - The rise of "pain gold" jewelry, which combines gold with popular IP images, is gaining traction among young consumers, being perceived as a valuable investment opportunity [1][2]. Group 1: Market Trends - The browsing volume of "pain gold" topics on social media platforms has exceeded 2.25 million [3]. - In the past year, transactions of IP gold products have increased by 294%, with some e-commerce platforms establishing dedicated categories for "IP gold" [8]. - The price of "pain gold" products is generally higher than that of regular gold jewelry, with some items being resold at nearly three times their original price [1][13]. Group 2: Consumer Behavior - Young consumers, particularly those aged 18 to 34, contribute over one-third of gold jewelry sales, indicating a shift in purchasing power towards this demographic [15]. - The emotional connection and cultural expression associated with IPs encourage young consumers to pay a premium for "pain gold" products [15][14]. - A collector reported that the value of certain "pain gold" items has appreciated significantly, with some items seeing increases of over 120,000 yuan [7][13]. Group 3: Product Examples - Notable collaborations include Chow Tai Fook's partnership with chiikawa, selling a product for 560 yuan with a gold weight of 0.2 grams [9]. - Another example is the Pikachu gold card sold by Lao Feng Xiang for 888 yuan, weighing 0.5 grams [12]. - The Saint Seiya gold ornament priced at 890,000 yuan weighs 666 grams, showcasing the high-end market segment of "pain gold" [12].

Core Insights - The trend of "Pain Gold" is gaining popularity among young consumers, with prices reaching up to 2800 yuan per gram, nearly three times the daily gold price since 2025 [1] - The term "Pain Gold" originates from Japanese otaku culture, where items are adorned with anime elements, and it is now viewed as a "most valuable item" by some young people [1] - The browsing volume of "Pain Gold" topics on Xiaohongshu has surpassed 2.25 million, and the transaction volume of IP gold products on Taobao has increased by 294% year-on-year [1] Industry Trends - In a generally weak gold consumption environment, this category of secondary element-linked gold is becoming a growth point for several jewelry brands [1] - A recent event in Shanghai showcased a game enthusiast carrying a "golden banknote pain bag" valued at over 10,000 yuan, which gained significant attention on social media [1] Market Dynamics - A gold banknote weighing 1 gram, originally priced at 899 yuan, is now being resold for nearly 1600 yuan on second-hand platforms, indicating a price increase of almost 78% [3] - Another gold set, a collaboration between Lao Miao Gold and the IP "Tian Guan Ci Fu," is being resold for 16,600 yuan, with an estimated price of 1509 yuan per gram based on its total weight of approximately 11 grams [3] Consumer Behavior - The collaboration between Lao Feng Xiang and Bandai Namco produced a pure gold series collectible priced at 80,000 yuan, which sold out quickly, reflecting strong consumer interest [5] - The emotional connection and social currency associated with IPs encourage young consumers to pay a premium for "Pain Gold," as it is perceived as more durable than paper or metal badges [5]

Core Viewpoint - The trend of "pain gold" is gaining popularity among young consumers, with prices for certain gold products being driven up to nearly double the market price since 2025, leading to a supply shortage [1][6]. Group 1: Market Trends - The price of a 1g gold note originally priced at 899 yuan has surged to nearly 1600 yuan on second-hand platforms, reflecting a near doubling of its original price [4]. - The "pain gold" concept, rooted in Japanese otaku culture, is being embraced by young consumers as a valuable collectible, with related topics on social media platforms like Xiaohongshu exceeding 2.25 million views [6]. - The overall market for IP gold products has seen a 294% year-on-year increase in transactions on Taobao, indicating a significant growth area for jewelry brands amidst a generally weak gold consumption environment [6]. Group 2: Product Examples and Pricing - A collaboration between Lao Miao Gold and the IP "Tian Guan Ci Fu" has seen a gold jewelry set priced at 16,600 yuan, with an estimated weight of 11g, resulting in a price of approximately 1,509 yuan per gram [4]. - The "pain gold" items are perceived as having both emotional and social currency, with young consumers willing to pay premiums due to the emotional connection to the IPs [7]. - A limited edition 1,000g gold Gundam collectible originally priced at 880,000 yuan is now valued at over 1 million yuan, showcasing the potential for significant appreciation in value [6][7].