Declining Demand: Shift from Gold Jewellery to Bars and Coins Shuts Down Shops

The bustling main street of Biyang, Henan province, once adorned with numerous gold jewellery shops, now bears the brunt of closures amidst fluctuating gold prices and reduced marriage rates. The scenario narrated by one resident depicts the trend: “Gold jewellery used to be very popular in our small county,” said 25-year-old Yu Qian, revealing the shop closures. She estimated a two-thirds drop in the once bustling gold shops. The narrative expands to a national scale where jewellery retailers countrywide grapple with fading demand. Corporate reports unveil the magnitude of this evolving trend: industry stalwarts like Chow Tai Seng have scaled…