Chinese consumers have become more cautious about purchasing gold and silver products due to recent price volatility in the global precious metals market.
At the Shuibei market, a gold jewelry manufacturing and trading hub in the southern metropolis of Shenzhen, despite many still shopping for gold jewelry at the mall, the atmosphere remains notably more subdued than before.
Despite the drop in gold prices, many customers feel they are still higher than expected, causing them to hesitate longer before making a purchase.
"When it comes to gold jewelry, I focus on both value retention and wearability. I don't go for pieces with a high markup. Right now I'm just watching the prices. If I find something I really like, I'll buy it; if not, I'll just leave it," said a customer.
Meanwhile, silver also experiences a downward trend. Currently, the demand in the silver market has begun shifting from investment to jewelry consumption.
"Previously, everyone was rushing to buy not only silver bars, but also heavy bracelets and various silverware. However, people are now more rational. They used to buy silver mostly for investment, but now it's mainly for decoration," said Liu Fei, a silver seller at the Shuibei market.
Volatile gold, silver prices prompt caution among Chinese consumers
