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financial associated press, september 28 (reporter lu tingting)since september, the international gold price has continued to rise to high levels many times and climbed above the us$2,700 mark this week. after the main contract of shanghai gold futures rose to 600 yuan/gram for the first time on wednesday, it hit 602.3 yuan/gram on september 27. gram reached a high point, with a cumulative increase of more than 115 yuan/gram during the year.

gold prices for domestic gold and jewelry brands have also continued to rise. reporters from the china federation of finance and economics visited many gold stores in guangzhou and found that on september 27, most pure gold jewelry prices were 773 yuan/gram, and laomiao gold was as high as 776 yuan/gram. the salesperson even judged that "the price will only be higher."

is it better to sell products with small weight and fixed price?

from the perspective of gold subdivision consumer products, there are many sectors that perform relatively well. according to feedback from terminal consumers, fixed-price gold jewelry seems to sell better.

a staff member of a branded gold store told a reporter from cailian news that the price of gold is high. in fact, many people prefer to buy fixed-price gold products sold by pieces. the overall price is not much more expensive than those sold by grams, but the craftsmanship is better. a lot, and the overall design sense will be stronger.

"as gold prices continue to rise, the prices of fixed-price products will also be adjusted accordingly, but the frequency of adjustments is not high."chow tai fookthe store staff pointed to the fixed-price products on the counter and told a reporter from cailian news, "the price was set when it was more than 600. now it is more than 700 and we haven't raised the price yet. it will increase after a while."

chao acerrecently, it was stated at an investor event that since the first half of this year, k gold and k gold inlaid products have still maintained a large decline. however, thanks to the better performance of the company’s fixed-price gold products, the company’s fashion jewelry category (including fixed-price gold products and k gold and k gold inlaid products) maintained a growth of 5.97%.

according to chao acer, the growth rate of the company's fixed-price gold products is close to the growth rate of traditional gold, and the gross profit margin is also closer to that of k gold products. the semi-annual report shows that the revenue of chao acer’s traditional gold product h1 increased by 31.37% year-on-year.

talking about the new changes on the consumer side in the context of high gold prices, a person from zhou dasheng securities said that the more obvious changes this year are: first, the structure has shifted from the original large-weight products to products with small weight, strong design, and low unit price per customer. products; secondly, in addition to gold, the proportion of auxiliary products such as pearls has increased significantly, but after all, it is not a large market, and these products are not as large as gold.

zhang yi, chief analyst of iimedia research consulting, said that the high gold price has led to consumers’ willingness to buy gold based on risk aversion to weaken. for gold stores, in order to sell good products, they can only subdivide the categories into more subdivided categories so that the prices are relatively reasonable and within the scope of consumers' budgets, so as to meet people's daily needs such as gifts and holiday commemorations.

the price of gold may rise again, and the product structure of brand owners will "restrain"

international gold prices continued to rise this week and set new historical highs several times. wind data shows that on september 26, the spot prices of comex gold and london gold hit a maximum of us$2,708.7/ounce and us$2,685.58/ounce respectively. on september 27, the international gold price fell back but was still at a high level.

in terms of domestic gold prices, on september 25,shanghai futures exchangethe gold futures 2412 contract hit the 600 yuan/gram mark, rising to 602.30 yuan/gram on september 27; the shanghai gold exchange au9999 hit a maximum of 601 yuan/gram during the week, an increase of 26.53% from the low of 475 yuan/gram at the beginning of the year. .

screenshot from the official website of shanghai gold exchange

song yunming, a u.s. and european financial analyst at beijing asanming international economic consulting co., ltd., analyzed to reporters from the associated press that the main reason behind the surge in gold prices at this stage is that the federal reserve cut interest rates by 50 basis points more than expected, which gave the market confidence in the federal reserve and major central banks. the subsequent easing policy will bring greater room for imagination. in addition, the oecd ands&p globalratings and other agencies have lowered their u.s. economic growth forecasts for 2025, as well as geopolitical turmoil, both of which have boosted investment demand for gold.

"the continued rise in gold prices has had varying degrees of negative impact on retail companies' inventory, purchase costs, sales, profits, etc.," zhang yi said.

it is worth noting that gold companies are also seeking performance contributions based on market dynamics and consumption changes.

zhou dashengthe aforementioned person said that as the environment changes, we still have a series of measures, including more detailed tracking of changes in consumer consumption habits. although major categories have been affected by the impact of the general environment, consumers are not completely non-consumption, and may be biased. to consume some products with higher quality and lower customer orders, we will increase our efforts in this category.

a staff member from the chaohongji securities department said, “our current gold category accounts for about 90% of the total jewelry category, and fixed-price products account for about 40% of the gold category. this will gradually increase. in addition, we will also strengthen our brand imprint. products, including the research and development of filigree inlays and filigree products.”

looking forward to the gold price outlook, song yunming believes that in the overall macro-uncertain environment, the bull market trend of gold prices is difficult to change. however, the gold price is currently affected by sentiment and has entered the overbought range in a short period of time. we must be alert to the risk of a gold price correction. it is expected that there is a probability of profit-making selling pressure near the $2,750/ounce level. it is possible to reach us$3,200 per ounce in 2025.