FOCUS 焦点 16 | JNA September/October 2024 Despite ongoing economic challenges and an overall downturn in China’s gold jewellery market, 24-karat gold jewellery has become a highly sought-after product, thanks to its value preservation attributes and innovative designs. According to the latest Gold Demand Trends report of the World Gold Council (WGC), sales of 24-karat gold products in China outperformed all other categories during the first half of 2024 while lightweight and affordable gold items are also gaining traction. Market appetite for such products was prevalent amid sluggish demand for gold. The same WGC report said China recorded a 35 per cent year-on-year decline in gold jewellery demand during the second quarter of 2024 – the weakest result for a Q2 since 2009 – as economic woes weighed down on consumer sentiment and fuelled high levels of “willingness to save.” Jewellers are similarly redirecting their resources to promoting higher-margin, gem-set products with intricate designs to boost profits, added WGC. Roland Wang, regional CEO of WGC China, explained, “The sharp decline in gold jewellery consumption in the second quarter of the year is not a ‘Chinese specialty.’ Major gold jewellery markets such as India, the Middle East, the US and Europe all recorded declines in varying degrees due to historically high gold prices.” Data from WGC showed that gold prices reached a record high of US$2,529.75 per ounce as of August 20, 2024. | Sharon Kwok 郭芷雯 with reports from Julius Zheng 郑嵘 | i Isnr et hdee fhi ne ianrgt ot hf eC hg oi nl da ' ss ej ec wt oer ,l lleerdy bi nydl uo sctarlym, aa wn ua fvaec touf rienrns owv ah toi oanr ea tnrda nc sr ef oartmi v ii nt yg traditional gold jewellery into avant-garde pieces to entice modern consumers. 在中国珠宝业的核心，一股创新和创意的浪潮正改变金饰品类。在本地制造商的带领下， 他们将传统的黄金首饰打造成前卫的款式，吸引现今消费者。 Pure gold jewellery shines in China 足金珠宝在中国熠熠生辉 Pearl jewellery set in 24-karat gold by Shenzhen Jinruibao Jewelry Co Ltd 深圳市金瑞宝珠宝首饰有限公司的24K金珍珠首饰套装
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