As Chinese consumption of gold jewellery slumps 34%, sellers look to markets abroad: WGC - South China Morning Post

AI desk brief

Chinese gold jewellery consumption has slumped 34%, pushing domestic jewellers to look abroad as they try to offset weak local demand and gold price volatility. The World Gold Council said buyers from the Middle East and India made up most visitors at the latest Jewellery & Gem World Hong Kong fair, where interest centred on new product designs and Chinese “hard pure gold” techniques.

WGC China CEO Wang Lixin said the thinner, harder jewellery format could help Chinese producers compete in markets that favour inlaid jewellery, especially in the Middle East and India. The piece is a demand-side bearish signal for China jewelry fabrication, but it suggests some export opportunity for manufacturers if overseas appetite holds up.