Core Insights - The gold market in Wenzhou is experiencing a significant increase in gold transactions, with large cashing out stories becoming the norm as gold prices continue to rise [1][4] - The demand for investment-grade gold products like gold bars and coins is surging, while the consumption of gold jewelry is declining sharply [6][7] Group 1: Market Trends - Mr. Wen from Wenzhou sold 8 kg of gold for 6.12 million yuan, yielding a net profit of approximately 3.12 million yuan, indicating a strong investment return [1] - The owner of a gold shop, Xie Zuping, reported a 50% increase in gold recovery business compared to 2022, leading to the expansion of his stores from 1 to 3 [1][4] - Daily inquiries about gold transactions have increased significantly, with high-value transactions becoming commonplace, a trend that was unimaginable two years ago [4] Group 2: Consumer Behavior - The Chinese Gold Association reported a 24.69% year-on-year decline in gold jewelry consumption for 2024, while gold bars and coins saw a 24.54% increase [7] - Traditional demands for gold in weddings are decreasing, with many opting for cash gifts or gold bars instead of jewelry [7][9] - Small denomination gold products, such as gold notes and gold beans, are gaining popularity among younger consumers due to their affordability and investment appeal [9] Group 3: Price Dynamics - The gold market is characterized by high volatility, with recent fluctuations in international gold prices affecting domestic gold prices significantly [11] - On July 1, domestic gold prices increased, with brands like Chow Sang Sang and Lao Feng Xiang raising their prices by 15 yuan and 12 yuan per gram, respectively [11] - The market is witnessing a shift towards high-value transactions, reflecting both wealth accumulation and the psychological impact of rising gold prices on consumer behavior [11]

Price Trends - Platinum prices have significantly increased by approximately 40% since the beginning of the year, with retail prices for platinum jewelry exceeding 500 RMB per gram [1][2] - The current price for platinum bars ranges from 310 RMB to 330 RMB per gram, with various weights available [1][2] - Despite the rising prices, the recovery price for platinum remains low, generally below 270 RMB per gram, indicating potential losses for immediate resale [2] Market Dynamics - The World Platinum Investment Council suggests that platinum prices are still historically undervalued compared to gold, driven by market fundamentals and investor sentiment [2][3] - The global platinum market is expected to face a supply deficit of 30 tons in 2025, marking the third consecutive year of short supply, with total demand projected to reach 247.7 tons [3] - The demand for platinum in the jewelry sector is anticipated to grow by about 5% due to a recovery in Chinese consumption, while automotive demand is expected to decline by 2% [3] Industrial Applications - Platinum is recognized for its critical role in various industrial applications, particularly in the petrochemical industry and as a catalyst in hydrogen energy systems [4][3] - The unique properties of platinum, such as high melting point and resistance to corrosion, make it valuable in manufacturing high-end chemical vessels and catalysts [2] Investment Considerations - Platinum is increasingly viewed as an alternative investment to gold, especially as gold prices remain high [5] - However, the market for platinum is smaller and less liquid than that of gold, which may pose challenges for investors, particularly regarding purity assessment and recovery market dynamics [4][3]

Group 1 - Recent fluctuations in gold prices have led consumers to shift their focus towards platinum, resulting in a significant increase in platinum sales during the JD 618 shopping festival, with platinum bar sales surging 17 times year-on-year and overall platinum jewelry sales doubling [1][3] - The closing price of spot platinum reached $1,332.28 per ounce on June 18, marking a ten-year high and a year-to-date increase of over 45%, reflecting heightened consumer investment enthusiasm [1] - Popular platinum products during the JD 618 period included the Rongtong 20g platinum bar, which saw a fivefold increase in the number of people adding it to their cart, ranking among the top-selling investment gold products on JD [1] Group 2 - The platinum jewelry market is experiencing a rise in consumption, with its unique silver-white luster and low maintenance making it increasingly popular among consumers [3] - Notable best-selling platinum jewelry items include versatile pieces from brands like Zhou Li Fu and Zhou Da Fu, with men's platinum necklaces emerging as a new consumer trend, particularly the Ruofei men's platinum braided necklace [3] - Despite the growing popularity of platinum, its price is influenced by multiple factors, and consumers are advised to purchase from reputable brands to ensure product quality and after-sales service [3][5] Group 3 - JD has launched a "Material Guarantee" service to enhance the shopping experience for platinum products, allowing consumers to request testing if they have doubts about the material, with compensation offered if the results do not match the product description [5]

Group 1 - The platinum market has experienced a significant surge, with prices increasing by 31% over four weeks since mid-May [1] - Many jewelry stores are adjusting their sales strategies, expanding platinum displays and increasing inventory due to rising consumer interest [1][3] - Platinum is now being promoted as a more affordable alternative to gold, with its price being approximately 40% of gold's price, leading to a shift in consumer purchasing behavior [3] Group 2 - The global platinum market has faced a supply shortage for three consecutive years, with a reported shortfall of 25 tons in the first quarter of 2025, marking the largest seasonal deficit in six years [5][6] - The price of platinum reached a nearly ten-year high of $1285.58 per ounce on June 11, driven by supply-demand dynamics and strong investment sentiment [5][6] - Despite the current market enthusiasm, some institutions express caution regarding the sustainability of price increases, citing potential risks from hydrogen technology commercialization and recovery in South African mining [6]