As the New Year and the Spring Festival approach, the gold market in Shenzhen City, south China's Guangdong Province, is experiencing a peak seasonal demand.
Shuibei market, a gold jewelry manufacturing and trading hub in Shenzhen, consumer flow and gold sales are both seeing a spike.
With international gold prices lowered recently, some traditional retail gold stores have seen prices drop below 800 yuan (more than 109 U.S. dollars) per gram.
At Shuibei market, gold prices even have come down to 622 yuan (more than 85 U.S. dollars) per gram.
The price drop, combined with the approach of holidays, has sparked a rush in the gold market.
On weekends, the market has been buzzing with activity, drawing crowds of eager shoppers.
"The foot traffic has increased by about 40 percent compared to last month. Especially on weekends, the crowd is so large that some salespeople struggle to keep up with demand," said Wu Qian, a gold retailer at Shuibei market.
Despite the price adjustment, consumers remain cautious about purchasing large-weight gold items.
As a result, small-weight gold jewelry has become more popular. Additionally, gold pieces featuring the snake -- the zodiac sign of 2025 -- are trending, with many wholesalers crowded with retailers from across the country.
"I'm here mainly to buy the 12 Chinese zodiac animal-themed bracelets, especially the ones featuring the snake. Besides that, I'll also be picking up related products like necklaces, pendants, earrings, and rings," said a retailer from southwest China's Sichuan Province.
Shenzhen's gold market sees consumption upsurge
Iranian Parliament Speaker Mohammad Baqer Qalibaf warned on Sunday that Tehran would view the United States and Israel's military bases and facilities in the Middle East as "legitimate targets" should Washington take military action against Iran.
At a parliamentary session convened to review an emergency proposal on assembly regulations, Qalibaf emphasized that, at this highly sensitive juncture, Iran must accurately and thoroughly identify the schemes of its adversaries.
Qalibaf said that Iran is currently confronting Israel and the United States simultaneously on four fronts: economic, cognitive, military, and counterterrorism. Of them, the economic warfare and the cognitive and psychological warfare began many years ago and have persisted to this day, growing increasingly complex and intense in recent years.
The remarks came as U.S. President Donald Trump is reportedly "seriously considering authorizing a strike" against Iran, taking advantage of its nationwide unrest.
Protests have erupted in several Iranian cities since late December over the sharp fall of the rial and long-standing economic hardship. Iranian authorities have acknowledged the demonstrations and voiced willingness to address economic grievances, while warning against violence and vandalism.
Amid the ongoing protests, deadly clashes have been reported lately between police and what the government described as "rioters." However, no official death toll has been released.
Also on Sunday, Iran's semi-official Tasnim news agency reported that Iranian President Masoud Pezeshkian will address the country's economic situation and political environment in a televised interview later that day.
Iran swears to counterattack if attacked
