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]